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Tribune News Network
Doha
Al Rayyan has emerged the most expensive municipality in Qatar after Doha in terms of the per-square-foot prices of real estate, according to the latest official figures from October.
The per-square-foot prices of properties in Al Rayyan in October ranged between QR302 and QR491, while that of Doha fell between QR580 and QR1,115, the Real Estate Analytical Bulletin of the Ministry of Justice said on Monday.
They are followed by Umm Salal (QR273 and QR449), Al Daayen (QR250 and QR459), Al Wakra (QR262 and QR417), Al Khor and Al Thakhira (QR205 and QR305) and Al Shamal (QR130 and QR292).
According to the bulletin, around 332 real estate transactions worth QR1.74 billion took place in Qatar in October. This is an improvement of 33 percent in terms of value and 22 percent in terms of traded space, the Real Estate Analytical Bulletin said.
While Doha, Al Rayyan, Al Daayen and Umm Salal municipalities topped the list in terms of the value of transactions, Al Wakra, Al Khor, Al Thakhira and Al Shamal came on top in terms of volume.
The value of the transactions in Doha Municipality in October stood at QR760.003 million. It is followed by Al Rayan at QR 469.36 million, Al Daayen at QR232.08 million, Umm Salal at QR118.43 million and Al Wakra at QR115.41 million. The value of real estate transactions in Al Khor and Al Thakhira stood at QR40.205 million and Al Shamal at QR12.590 million.
In terms of volume, Al Rayyan Municipality emerged the most active, accounting for 31 percent. It is followed by Doha with 24 percent, Al Daayen with 18 percent, Umm Salal with 11 percent, Al Wakra with 10 percent, Al Khor and Al Thakhira by 4 percent and Al Shamal with 2 percent.
In terms of the number of real estate transactions made, Al Rayyan Al Rayan came on top, accounting for 25 percent. It is followed by Doha with 21 percent, Al Daayen with 20 percent, Umm Salal with 12 percent, Al Wakra with 11 percent, Al Khor and Al Thakhira with 8 percent and Al Shamal with 3 percent.
The report also said that around 262 properties were placed under mortgage for a sum of QR8.750 billion in October. Doha registered the highest number of mortgage transactions of 111, equivalent to 42.4 percent of the total number of mortgaged properties, followed by Al Shamal with 50 (19.1 percent), Al Rayyan with 40 (15.3 percent), Al Khor and Al Thakhira with 22 (8.4 percent), Al Daayen with 20 (7.6 percent), Al Wakra with eight (3.1 percent) and Al Shahaniya with one transaction (0.4 percent).
