Properties deals worth QR489.1 million were made in Qatar in third week of February, QR1 million less than those finalised in the previous week, according to Ministry of Justice’s Real Estate Registration Department.
The period between February 13 and 17 saw the striking of 122 real estate deals. This represents a growth rate of 2.5 percent and an average of QR4 million per deal, a weekly real estate index issued by the Market Research Department at Utopia Real Estate company said. The real estate deals that were implemented during the third week of February included 60 houses, 48 vacant land lots, five residential buildings, three multi-purpose buildings, four multi-purpose vacant land lots, a commercial building and an apartment complex.
Houses deals accounted for 49 percent of the number of transactions executed during the week and 38 percent of real estate transactions values, while vacant lands deals accounted for 39 percent of the number of transactions and 25 percent of their value.
The highest deal in terms of value during the week came through apartment complex in the Al-Gharafa area of Al-Rayyan municipality at a value of QR46.3 million at a price of QR595 per foot with an area of 7,231 square metres.
Secondly, there was a deal to sell a commercial building in Al-Waab area in Al-Rayyan Municipality, at a value of QR20 million, at a price of QR1,032 riyals per foot, with an area of 1,800 square metres. Jeryan Junaihat area in Al Daayen Municipality witnessed a deal to sell a multi-purpose vacant land at a value of QR19.05 million, at a price of QR1,475 per foot, and an area of 1,200 square metres.
The houses deals that were registered on the third week of February, amounted to QR186.9 million through the implementation of 60 deals, with an average of QR3.12 million per deal, and their average price was QR419 per foot.
The highest average price was recorded in Al Daayen Municipality, which witnessed the implementation of 11 deals worth QR34.6 million with an average of QR505 riyals per foot, then Umm Slal Municipality, which witnessed six deals worth QR19.1 million and an average of QR479 per foot.
Thirdly, the Doha Municipality, which witnessed the implementation of 12 deals worth QR41.5 million and an average of QR418 riyals per foot, then Al-Wakra Municipality, which witnessed the implementation of seven deals worth QR16.1 million at a price of QR406 per foot. While the lowest price per square foot among houses deals in the Al Shamal Municipality came through two deals worth QR5.6 million at a price of QR308 per foot.
In terms of vacant land deals, their total value amounted to QR122.4 million through the implementation of 48 deals, with an average of QR2.55 million per deal, and an average price of QR270 per foot. Al Wakra Municipality topped the list in terms of the number of deals by implementing 12 deals worth QR18.1 million with an average of QR219 per foot, followed by Umm Slal Municipality by implementing 11 deals for vacant lands with an average of QR229 per foot and a total value of QR51.6 million.