Utopia Real Estate Weekly Index: 46.5% Growth in Weekly Real Estate Trading

The value of real estate transactions in the State of Qatar amounted to 373.5 million riyals, with a weekly growth of 46.5%, while that period witnessed the implementation of 104 real estate deals with an average of 3.6 million riyals per transaction, according to the data of the weekly real estate bulletin issued by the Real Estate Registration Department at the Ministry of Justice for the period from 7 to 11 from This November.

And the weekly real estate index issued by the Market Research Department of the “Utopia Real Estate” company, indicated that the real estate deals that were implemented during the past week varied to include 58 deals of vacant land, 38 deals for housing, 5 deals for the sale of residential buildings, as well as two deals for the sale of multi-use buildings, in addition to the sale of a commercial building. .
The highest deal in terms of value during the week came through the sale of a residence in the Pearl with a value of 40 million riyals, covering an area of ​​1,402 square meters, at a price of 2,651 riyals per square foot. 1614 riyals per square foot, and thirdly came the deal of a multi-use building in Umm Salal Municipality in Umm Salal Ali area, with a value of 22 million riyals, where the building area amounted to 1193 square meters at a selling price of 1713 riyals per foot.

In terms of distributing real estate transactions to the country’s municipalities, it is clear that Doha Municipality controlled 40% of the transaction values, as it recorded transactions worth 148 million riyals, and it also acquired 14.4% of the number of deals by 15 deals, with an average of 9.85 million riyals per transaction, which constitutes an increase in percentage. 180% of the average value of transactions registered at the level of all municipalities, while Al Rayyan Municipality acquired 25% of the trading value, recording transactions of nearly 92 million riyals, and it also accounted for 33.6% of the number of transactions, with 35 deals, with an average of 2.6 million riyals, a decrease of 28% On the average transactions recorded in all municipalities, while Al Wakra Municipality recorded 14 deals worth 32 million riyals with an average of 2.3 million riyals per deal, Umm Salal Municipality witnessed the implementation of 14 deals worth 50.2 million riyals, and Al Daayen witnessed the implementation of 13 deals worth nearly 36 million riyals.

For his part, Mr. Mohamed Farghali, CEO of Utopia Real Estate, said that last week’s trading, despite recording a weekly growth of 46.5% in terms of values, the trading volume is still largely calm, in the absence of major deals, which is one of the most prominent Market drivers and attracting liquidity to the real estate sector, especially since there has been a complete disappearance of deals for the sale of residential towers or large residential complexes, and deals of vacant land and traditional housing are controlling more than 90% of the number of transactions executed per week.

Mr. Farghali added that the Utopia Real Estate report monitored during the last period an activity in terms of residential building deals, which amounted to 52 deals worth 880 million riyals during the third quarter of this year, in addition to 13 deals worth 191 million riyals during last October, and this activity withdrew on trading. The week before last, which witnessed 5 deals for residential buildings worth 70.2 million riyals, which confirms the attractiveness of this real estate product during the current stage for a certain type of investors looking to seize the opportunity of the 2022 World Cup, and the expected demand for ready-made apartments, whether rented directly Or via the Supreme Committee for Delivery & Legacy.

Farghali indicated that the analytical data of the weekly real estate transactions showed that the average price of land deals amounted to 260 riyals per foot, compared to 307 riyals per foot during last October’s deals and 272 riyals per foot during the third quarter deals of this year. This price decline is attributed to the disappearance of vacant land deals in Doha Municipality during the trading week before last, where vacant land deals were concentrated in the municipalities of Al Rayyan, Al Daayen, Al Shamal, Al Wakra, Umm Salal, Al Khor and Al Thakhira. As for housing deals, despite the registration of only 38 deals, their values ​​amounted to nearly 150 million riyals, especially the Doha Municipality, which witnessed 8 Housing deals worth 64 million riyals, compared to 13 housing deals in Al Rayyan municipality worth 34.7 million riyals, and 8 deals in Al Wakra worth 22 million riyals.