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Doha, Qatar: Qatar’s real estate sector offers several opportunities for residents and investors alike. The country’s realty market has continued to witness growth during the second quarter (Q2) of this year as it witnessed deals worth QR3.191bn for 808 real estate transactions in Q2 of 2024, according to Ministry of Justice data.
The country’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 government in addition to an appetite for safe investment.
In the first quarter of last year the real estate index achieved total value of QR4.375bn for 795 real estate transactions. The real estate transactions achieved the highest levels during May 2024 with a total value of QR1.260bn. April 2024 registered a total value of QR811m and June of this year also recorded QR1.118bn realty transactions.
The real estate market index for Q2, 2024 revealed that Doha Municipality, Al Rayyan Municipality and AL Dhaayen Municipality consecutively are the most active in terms of financial value. The financial values of Doha Municipality totaled QR1.113bn, Al Rayyan Municipality is ranked second with transactions value of QR831m and then Al Dhaayen ranked third with transactions amounting to QR522m.
During Q2, 2024 in terms of the number of real estate sold the most active municipalities were Al Rayyan (26 percent) followed by Doha (25 percent) and then Al Dhaayen (15 percent). While in Q2, 2023 Al Rayyan (2 percent), followed by Doha (24 percent), and Al Dhaayen (18 percent) each were the most active municipalities.
According to the area index in Q2, 2024 the indices show that the most active municipalities in the real estate trading movement were Al Rayyan and Doha (27 percent) followed by Al Wakrah (17 percent) of total transactions. While in Q2, 2023 the indices showed that the most active municipalities were Al Rayyan (33 percent), Doha (23 percent) followed by Al Dhaayen (19 percent) of the total transactions, according to the area index.
Meanwhile in Q2, 2024 the value of top ten properties registered showed four properties in Doha Municipality, 3 properties in Al Dhaayen , two properties in Al Rayyan and one property in Al Wakrah Municipality.
The Real Estate Regulatory Authority continues its efforts to stimulate and develop the real estate sector in the country, contributing to economic diversification in line with the Third National Development Strategy, which emphasizes economic diversification as a crucial necessity for achieving sustainable economic growth.
For more Information contact: www.dxrprop.ae
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