Real Estate Trading in Qatar Decreases by 34.7% in August

Real Estate Trading in Qatar Decreases by 34.7% in August

Real estate trading volume in Qatar witnessed a 34.7% monthly decrease in August, amounting to approximately QAR 1.01 bn, Invest-Gate reports.

As reported by the CNBC, data from the bulletin for the previous month showed a 15% increase in the number of real estate transactions, with 297 deals registered, surpassing the number recorded in July.

In May 2023, the value of real estate trading in Qatar experienced a 37% annual increase, reaching around QAR 1.85 bn, while the number of transactions decreased by 5.3% to 337 deals.

The total value of mortgage loans in Qatar for the previous month amounted to QAR 8.81 bn, indicating a 5.1% annual increase compared to the same month in 2022.

By the end of April 2023, the total value of loans and banking facilities directed towards Qatar’s real estate sector reached nearly QAR 186 bn.

Moreover, During the first quarter of 2023, real estate trading values in Qatar declined by 9% YoY, amounting to approximately QAR 4.42 bn, with 974 transactions executed.

Mortgage loans recorded an 11.6% year-on-year decline during the first three months of the current year, amounting to around QAR 13.7 bn, through the execution of 255 transactions.

Contrary to the expectations and estimates of industry experts, rental values in Qatar did not witness any price corrections during the first quarter of 2023 following the World Cup period. Experts had anticipated a price correction of up to 30% in 2023.

Notably, Real estate estimates in Qatar indicate a significant supply of residential, commercial, and service units in the country, coupled with a decrease in demand and an increase in real estate loans, reaching over QAR 188 bn riyals by the end of March 2023.


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