Doha, Qatar: Qatar’s real estate sector witnessed deals worth QR4.196bn in the fourth quarter (Q4) of last year. The realty sector is experiencing remarkable growth, driven by various factors including high GDP growth, an influx of population, employment opportunities and favourable government policies
The real estate transactions achieved the highest levels during November 2023 with a total value of QR1.460bn; in October of last year it recorded a total value of QR1.640bn transactions and around QR1.405bn in December 2023 according to Ministry of Justice data.
From December 24 to 28, real estate transactions worth QR372m were signed. Total sales contracts for residential units in the real estate bulletin for the same period was QR27.4m.
Whereas from December 19 to 21, real estate transactions worth more than QR291m were signed in the country.
A week before from December 10 to 14 realty transactions reached QR322m and total sales contracts for residential units in the real estate bulletin for the same period reached QR47.5m.
During the week December 3 to 7, total real estate transactions valued at more than QR419m were recorded in Qatar. The total sales contracts for residential units in the real estate bulletin for the same period was QR46.6m.
The growing diversity of properties and a range of cultural and entertainment attractions make Qatar an ideal location for real estate projects.
Qatar possesses one of the best infrastructures at the global level to achieve prosperity and sustainability for the population, and has taken a myriad of initiatives recently to develop the real estate sector, such as granting the non-Qataris the real estate freehold, in addition to establishing a real estate regulatory authority to promote and develop this vital sector, as the country continues to develop this sector in execution of the state policy within Qatar National Vision 2030.
The data of the real estate analytical bulletin issued revealed that 321 real estate transactions were recorded during the month of November 2023. When compared to October 2023, the index of sold real estate registered an increase of 10 percent, and the index of traded areas registered an increase of 7 percent.
Doha, Al Rayyan, and Al Dhaayen municipalities topped the most active transactions in terms of financial value in November 2023, according to the real estate market index, followed by Umm Salal, Al Wakrah, Al Khor and Al Dhakira, Al Shamal, and Al Shahaniya.
On the other hand in October 2023, 332 real estate transactions were recorded during the month. Compared to September 2023, the index of sold real estate registered an increase of 11 percent, and the index of traded areas registered an increase of 28 percent. Doha, Al Rayyan, and Al Dhaayen municipalities topped the most active transactions in terms of financial value in October 2023.
The growth of real estate sector in Qatar is evident by the strength of the economy, the wide scope of construction operations, and the completion of many economic diversification plans within Qatar National Vision 2030 which makes it one of the fastest growing sectors to real estate brokerage, real estate registration, and ownership in addition to the laws attracting local and foreign capital.
