More than QR2bn of real estate sales registered in May

The volume of real estate transaction in sales contracts registered with the Real Estate Registration Department at the Ministry of Justice in May reached QR2,685,045,121.

The data of the analytical real estate bulletin issued by the Ministry of Justice showed that 321 real estate deals were registered during the same month.

The index of the value of the deals rose 34%, while the index for total area traded increased 10%.

The municipalities of Doha, Al Rayyan and Al Daayen topped the most active transactions in terms of financial value during the month of May, followed by the municipalities of Umm Salal, Al Wakra, Al Khor-Al Thakhira and Al Shamal.

The financial value of Doha Municipality reached QR 1,670,749,364. Al Rayyan meanwhile had a total traded value less than a third of that of Doha at QR521,305,884.

Al Daayen for its part traded value worth QR227,994,865 during the month.

In terms of the traded areas index, the indicators show that the municipalities of Al Rayyan, Doha and Al Daayen were the most active municipalities for real estate areas traded during the month of May, with 34% for Al Rayyan municipality, followed by Doha municipality by 26%, and Al Daayen with 17%, and Umm Salal municipality registering 8%.

Data for trading in the Pearl and Gassar areas showed 24 deals for residential units with a total value of QR48,319,775.

Real estate trading data during May 2021 shows that the real estate sector continues its steady and strong growth in various investment and commercial fields, thus continuing active trading movement that the sector is witnessing in the recent period, especially with the issuance of new laws and decisions related to real estate brokerage, real estate registration, ownership and use of the aspects of laws attracting domestic and foreign capital.

These data also confirm the strength and durability of the foundations of the Qatari economy and the continued growth of the real estate sector as one of its main components.



As seen on GulfTimes  Image Credits GulfTimes