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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 is evident by the strength of the Qatari economy, the wide scope of construction operations, and the completion of many economic diversification plans within Qatar National Vision 2030. This 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.
The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry of Justice in January amounted to QR1,919,640,254. The data revealed that 362 real estate transactions were recorded during this period. Compared to December 2023, the index of real estate sales registered an increase of 10 percent, and the index of traded areas registered an increase of 21 percent.
Doha, Al Rayyan, and Al Dhaayen municipalities topped the most active transactions in terms of financial value in January followed by Al Wakrah, Umm Salal, Al Shamal, Al Khor and Al Dhakira.
The volume of real estate trading in sale contracts registered in February amounted to QR1,391,961,588. Around 350 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 February, according to the real estate market index, followed by Al Wakrah, Umm Salal, Al Shamal, Al Khor and Al Dhakira.
While realty trading volume in sale contracts registered in March amounted to QR942,154,324m.
Qatar’s real estate 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 sector saw deals worth QR16.703bn in 2023 in 3,579 transactions.
In 2023, real estate trading movement witnessed the highest momentum in February with 382 real estate transaction with total value of QR2.040bn. This was followed by March with 340 transactions, then May 337 transactions. When compared to real estate trading movement during 2022, the highest movement was seen in June (517), September (509) and February (445) transactions.
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