Analyzing Qatar’s Real Estate Performance in January
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The trading volume in Qatar’s real estate sector reached QR 1,919,640,254 in January, as reported by the Real Estate Registration Department at the Ministry of Justice. The month saw a total of 362 real estate transactions. When compared to December 2023, there was a 10% increase in the real estate sold and a 21% rise in the traded areas.
The municipalities of Doha, Al Rayyan, and Al Dhaayen were the most financially active in January’s real estate transactions, followed by Al Wakrah, Umm Salal, Al Shamal, Al Khor, and Al Dhakira. The financial values of transactions were notably high in Doha at QR 1,182,738,449, Al Rayyan at QR 380,869,371, and Al Dhaayen at QR 135,673,354, with other municipalities also showing significant trading values.
Doha, Al Rayyan, and Al Wakrah led in terms of traded real estate spaces, with respective percentages of 36, 30, and 12% of the total traded spaces. The transaction activity in terms of the number of sold properties saw Doha leading with 33%, followed by Al Rayyan at 22%, and Al Dhaayen at 15%.
The average prices per square foot in January varied across municipalities, with the highest ranges in Doha (546-913) and the lowest in Al Shamal (158-280). The month’s trading volume highlighted the sale of 10 properties, predominantly in Doha, with 9 properties sold, and one in Al Rayyan.
Mortgage transactions in January reached 122, totaling QR 3,646,432,760 in value. Al Rayyan saw the highest number of mortgage transactions, making up 30.3% of the total. The value of mortgages was highest in Al Rayyan, totaling QR 2,664,345,287, while Al Khor and Al Dhakira recorded the lowest mortgage value.
The trading of residential units involved 73 transactions, with a combined value of QR 158,720,127.
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Villa prices saw particularly strong growth, with capital values increasing by 33.4 percent year-on-year
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Dubai’s real estate market showed strong performance in the second quarter of 2024, with notable increases across the residential, office, and retail sectors, according to a new ValuStrat real estate report for Q2 2024.
Villa prices experienced particularly strong growth, with capital values rising by 33.4 percent year-on-year.
Haider Tuaima, Director and Head of Real Estate Research at ValuStrat said: “The Dubai real estate market has shown impressive growth and resilience in recent months. The ValuStrat Price Index for Residential Capital Values increased by 6.4 percent quarterly and 28.2 percent annually, reaching 178.2 points.
“Despite severe flooding caused by record rainfalls in April, the quick and effective response from developers and authorities helped to control the damage, ensuring that market activity and property valuations remained robust in the subsequent months.”
The office sector also performed well, with the VPI for office capital values surging by 31.7 percent annually and 9.4 percent quarterly, reaching 212.5 points—the highest quarterly increase in a decade.
In the retail sector, Emaar Properties reported 98 percent occupancy in their prime mall assets, while overall mall occupancy stood at 96 percent during the first quarter of 2024. The hospitality sector also saw growth, with total international guests reaching 8.12 million as of May 2024, a 9.9 percent increase compared to the same period last year. Hotel occupancy reached 81 percent, rising by 1.4 percent year-on-year.
Despite these positive indicators, Tuaima added, “The decline in transaction volumes calls for a closer examination of market dynamics as stakeholders navigate this evolving landscape.”
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
