DOHA: The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in March amounted to QR965,512,307.
The data of the real estate analytical bulletin issued by the Ministry of Justice revealed that 268 real estate transactions were recorded during the month.
Doha, Al Rayyan, and Al Dhaayen municipalities topped the most active transactions in terms of financial value in March, according to the real estate market index, followed by Al Wakrah, Umm Salal, Al Khor and Al Dhakira, Al Shamal, and Al Shahaniya.
The real estate market index for February revealed that the financial value of Doha municipality's transactions amounted to QR324,460,167. The financial value of Al Rayyan municipality's transactions amounted to QR250,180,378 while the financial value of Al Dhaayen municipality's transactions amounted to QR150,780,434. The financial value of Al Wakrah municipality's transactions amounted to QR136,363,662. Umm Salal municipality recorded transactions with a value of QR56,276,334 million, while and Al Khor and Al Dhakira municipality recorded trading with a value of QR27,660,332 million, Al Shamal municipality recorded transactions with a value of QR14,263,000, and Al Shahaniya recorded transactions with a value of QR5,600,000.
In terms of the traded space index, indicators reveal that Al Rayyan, Al Wakrah, and Doha municipalities recorded the most active municipalities in terms of traded real estate spaces during March, with 26 percent for Al Rayyan, followed by Al Wakrah municipality with 24 percent, and Doha with 17 percent. Al Dhaayen recorded 16 percent, Umm Salal recorded 7 percent, Al Shamal 4 percent, Al Khor and Al Dhakira recorded 4 percent, and Al Shahaniya recorded 1 percent of the total traded spaces.
In terms of the index of the number of real estate transactions (sold properties), trading indices revealed that the most active municipalities during March were Al Rayyan (23 percent) followed by Doha (22 percent), Al Dhaayen (21 percent), Al Wakrah (13 percent), Umm Salal (10 percent), Al Khor and Al Dhakira (7 percent), Al Shamal (4 percent), and Al Shahaniya (1 percent) of the total real estate transactions.
Average per square foot prices for March ranged between (492 - 755) in Doha, (242 - 329) in Al Wakrah, (317 - 497) in Al Rayyan, (248 - 424) in Umm Salal, (296 - 518) in Al Dhaayen, (214 - 293) in Al Khor and Al Dhakira, (129 - 191) in Al Shamal, and (128) in Al Shahaniya.
The trading volume revealed the highest value of 10 properties sold in March, recording 4 properties in Doha, 3 in Al Wakrah, 2 in Al Rayyan, and one property in Al Dhaayen.
As for the volume of mortgage transactions that took place in March, the number of mortgage transactions amounted to 220 transactions, with a total value of QR5,868,866,899. Al Wakrah recorded the highest number of mortgage transactions with (119) transactions, equivalent to 54.1 percent of the total number of mortgaged properties, Al Rayyan followed with 46 transactions equivalent to 20.9 percent, Doha with (36) transactions equivalent to 16.4 percent, Umm Salal with (5) transactions equivalent to 2.3 percent, and Al Khor and Al Dhakira with (4) transactions each equivalent to 1.8 percent of the total properties mortgaged during the month.
With regard to the value of mortgages, the municipality of Doha came in the lead with a value of QR2,696,859,446, while Al Khor and Al Dhakira recorded the lowest value of QR8,232,862.
The residential unit trading movement during March reached (38) transactions with a total value of QR84,101,832.