Real estate prices in Qatar have dropped to their lowest level in recent years following four consecutive months of decline, according to a new report.     The country’s Real Estate Price Index, compiled by the Qatar Central Bank, stood at 202.43 in April 2024, the lowest since earliest available data in January 2020, data published by the banking authority showed. The index had previously dropped to its lowest in February 2021 at 202.5.   The index, which is based on the figures provided by the Ministry of Justice, also posted a decline for four consecutive months, falling from 225.12 in December 2023 to a little over 202 in April. Given the decline in prices, Qatar-based real estate marketplace hapondo noted that the Qatari real estate market is likely to…

volume of real estate trading in sales contracts at the Department of Real Estate Registration at the Ministry of Justice during the period from 28 April to 2 May 2024 reached QR, 247,261,294.   Total sales contracts for residential units in the Real Estate Bulletin for the period from 28 April to 2 May 2024, is QR, 44,144,614.   The weekly bulletin issued by the Department shows that the list of real estate properties traded for sale has included vacant lands, houses, Residential Buildings, Commercial Residential Building and Shops, Residential Units.   Sales were concentrated in, Doha, AL Rayyan, Al Daayen, Al Wakrah, Umm Slal, Al Khor and Al Dakhira, Al Shamal, municipalities, and in the Pearl Island, Al Dafna 60, Lusail 69, Legtaifiya, Zones.  

Doha, Qatar: Ezdan Real Estate announced the opening and lease of second phase at Al Janoub Gardens Residence, yesterday. Following the complete leasing of all 880 units in its first phase, the company has launched the second phase of Al Janoub Gardens Residence project, which comprises approximately 775 residential units of varying sizes.   Addressing a press conference, Deputy CEO of Ezdan Holding Group, Hani Dabash highlighted the overwhelming demand and popularity the project has received, particularly for its modern amenities and lifestyle offerings, including a central garden featuring children’s play areas and lush greenery, which facilitated the rapid lease-up of the first phase.   Al Janoub Gardens Residence is among the company’s key developments,…

Doha, Qatar: The new real estate registration law has been issued to keep pace with latest developments and use information technology in providing services, said a top official.   “The Law No. (5) of 2024 for regulating real estate registration stipulates that the Real Estate Registration Department can provide its services completely electronically,” said Director of the Real Estate Registration Department at the Ministry of Justice Amer Al Ghaferi.   Speaking to Qatar TV recently, he said that it will ease the services provided by the Department to citizens, expatriates and the entire real estate sector.   “Now we are providing services through SAK application which requires the applicants to visit the headquarters of the Ministry of Justice for…

To finish the process of implementing the new law’s provisions, the Ministry of Justice (MoJ) is drafting the executive decisions and regulations of Law No. (5) of 2024, which governs real estate registration. Saeed Abdullah Al Suwaidi, the MoJ’s Assistant Undersecretary for Real Estate Registration and Documentation Affairs, explained that this is part of the ministry’s efforts to modernize the legal and service system and to carry out the wise leadership’s directives to speed up transactions and services provided to citizens and residents. It also aims to raise the standard of services provided by government authorities, including the initiation of digital transformation initiatives. According to him, the law has entirely created several new provisions for real…

Doha, Qatar: The Commercial Avenue Company has signed a long-term lease agreement with Retaj Real Estate for 232 residential apartments in the ‘Jeera’ residential buildings, comprising one, two, and three-bedroom units.   Fahad Abdullatif Al Jahrami, Chairman of the Board at The Commercial Avenue Company, signed the agreement and stated, “This agreement is a significant milestone in enhancing Qatar’s real estate landscape. We are dedicated to delivering exceptional value, and this partnership exemplifies our commitment to excellence.”   Abdulla Abdulrazzak Haidar, Chief Executive Officer of The Commercial Avenue Company, commented that the new contract underscores the company’s significant impact on the Qatari real estate…

Doha, Qatar: Qatar has seen tremendous growing demand for residential properties in recent months as industry leaders note many new projects are in the pipeline for the current year.   Speaking to The Peninsula, Anum Hassan, who leads the Research team at ValuStrat said: “Rents decreased by 7 percent per year by the end of 2023, and there was no change in Q4 of that year. Over 6,000 units are in our pipeline for 2024, and most of them are planned apartment buildings.”   The market expert highlighted the post-FIFA fluctuation in the residential market, which saw a fall in rental prices across the country.   “After the World Cup 2022 concluded, we witnessed a significant decline in occupancy during the first half of 2023w. Rents thus decreased by 5…

  The office segment, for 2024, is expected to witness major projects that are in the pipeline, leading to augmenting the growth of Qatar’s economy. Several analysts in the country said that this indicates a vital boost for the sector.   However, as per reports, the key projects are expected to reach 350,000 sqm gross leasable area (GLA), representing an estimated increase of 50% in the forecast.   With the majority of the projects being delayed during 2023, oversupply is projected to exceed 2 million sq m GLA, which may continue to put “downward pressure” on the performance of the commercial sector.   Speaking to The Peninsula, Anum Hasan, Head of Research at Valustrat Qatar said: “In 2023, the office market saw a slowdown in the rent…

Doha, Qatar: Qatar’s real estate market has continued its upward trajectory growth during the first three months of this year. Realty sector witnessed deals worth QR4.253bn in the third quarter (Q3) of 2024, according to Ministry of Justice data. Qatar’s market is poised to benefit in the long-term, driven by several infrastructure projects and developments, expansion of the industry across the country, and investment-friendly initiatives implemented by the Qatari government in addition to an appetite for safe investment. The real estate transactions achieved the highest levels during January 2024 with a total value of QR1.919bn. February 2024 registered a total value of QR1.391bn and March of this year also recorded QR942m realty transactions. The growth in real estate…

Qatar’s real estate market has continued its upward trajectory growth during the first three months of this year. Realty sector witnessed deals worth QR4.253bn in the third quarter (Q3) of 2024, according to Ministry of Justice data. Qatar’s market is poised to benefit in the long-term, driven by several infrastructure projects and developments, expansion of the industry across the country, and investment-friendly initiatives implemented by the Qatari government in addition to an appetite for safe investment. The real estate transactions achieved the highest levels during January 2024 with a total value of QR1.919bn. February 2024 registered a total value of QR1.391bn and March of this year also recorded QR942m realty transactions. The growth in real estate sector in Qatar…

According to the ValuStrat Price Index (VPI), the nation’s residential sector remained stable every quarter during the fourth quarter (Q4) of 2023.   Prices in places like West Bay Lagoon and Muaither went up by 1% over the previous quarter. With the addition of 795 houses in the final quarter of 2023, the residential stock surpassed 343,500 units.   Experts at the international research and valuation consulting firm observed that of the 12,500 homes projected for 2023, nearly 11,000 were delivered in the previous year. During Q4 2023, notable projects include the residential buildings in Lusail, Al Serdal (120 apartments), and Al Kharaej (150 units).   Conversely, Just Real Estate opened The Lane Residence, the first residential building on Lusail Boulevard,…

Doha, Qatar: The total value of real estate transactions recorded at the Real Estate Registration Department of the Ministry of Justice reached QR183,391,822 during the period from March 17 to 21, 2024.   The total value of real estate sales for residential units during the same period reached QR19,549,817.   According to the weekly bulletin issued by the Ministry’s Real Estate Registration Department yesterday, the list of traded properties included vacant land, houses, residential buildings, and residential units.   The majority of sales were concentrated in the municipalities of Al Daayen, Doha, Umm Slal, Al Rayyan, Al Khor and Al Dakhira, Al Wakrah, Al Shamal, and Al Sheehaniya, as well as in The Pearl-Qatar, Dafna 60, and Al Kharayej.