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Satyendra Pathak
Doha
Transactional volume for residential houses in Qatar expanded 53 percent in the third quarter of the current financial year, compared with the same quarter last year, ValuStart has said in its latest report.
Median transacted prices for residential houses, however, continued to fall this quarter, with an 11 percent year-on-year (YoY) and 3 percent quarter-on-quarter (QoQ) decline.
Asking prices in The Pearl Qatar ranged from QR12,500 to QR18,000 per square metre.
The median asking price for freehold apartments in The Pearl in the third quarter was QR15,250 per square metre, declining 1.6 percent QoQ.
In Lusail, asking prices for apartments ranged from QR11,500 per square metre to QR16,000 per square metre.
Median asking price for a freehold apartment in Lusail was QR12,100 per square meter with asking prices on average remaining unchanged from second quarter.
Compared to 2016, median residential asking rents for apartments and villas declined 11 percent YoY and 4 percent QoQ, the report said.
Median monthly asking rents for apartments fell 10.5 percent YoY, the report said.
Due to increase in supply in Al Sadd, Freej Bin Mahmoud, Lusail and The Pearl, monthly asking rents reduced by an average 13 percent YoY in these areas.
Median monthly asking rents for villas fell 11 percent YoY.
Increased supply in areas such as Ain Khaled, Al Aziziya, Muraikh and Abu Hamour, induced fall in rents by at least 12 percent YoY. Despite no notable change in supply, villas in high-end locations such as West Bay Lagoon and Al Waab experienced decline in monthly asking rents by 10 percent YoY.
Monthly asking rents for two bedroom apartments in The Pearl ranged from QR10,000-18,000 and in Lusail from QR6,500-9,500 a month, the report said.
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22/10/2017
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