Posted on October 23, 2011

The value of real estate transactions in Qatar in the second week of October has decreased by 21.9 percent and the size of deals has gone down by 10.8 percent compared to the previous week, a new report has said. 

“The value of real estate sold between October 9 and October 13 reached QR542.4 million, as compared to 696 million in the previous week. Accordingly, 119 deals were carried out in the second week against 133 executed in the first week of October,” the weekly report issued by Al-Asmakh Real Estate projects said on Saturday. 

According to the report, the volume of property transactions executed this week in Al-Rayyan and Doha municipalities formed 49.3 percent of the total number of deals executed and the average number of deals executed in one day is 24, which the report said is a good average. 

Regarding the prices of villas and residential apartments, the report suggested that in the 18 regions of Doha there were some stability during the transactions of the second week of October. It said the average prices of residential apartments in these areas reached QR1 million for one-bedroom apartments, QR1.2 million for two-bedroom apartments, and QR1.3 million for three bedroom apartments. 

The report indicated that the prices differ according to the location, size, and the floor in which the apartment is located. 

The eighteen areas that the report identified where the prices of villas remained stable for villas and residential apartments included, Musheireb, Freej Abdel Aziz, New Doha, AlghanemAlqadeem, Alrifaa, AlhatmiAlqadeem, Aslata, Bin Mahmoud, RawdetAlkhail, Mansoura, Bin Dirham, Najma, UmGwailina, Alkhlifat, Alsadd, AlmirqabAljadeed, Alnasr, Doha International Airport area, Dafna, Oniza, Lusail, Alkharaij, and Jabal Thouaileb. 

The report further pointed out that the price for one square meter in residential apartments was between QR5,000 to QR6,000 in the second week of October and it differs according to the region and the floor. 

The weekly report noted that the prices of villas decreased as one travelled north towards Algaraffa, Al- Laqta, Al Rayyan, Um Salal, and Azgawa, and ranged between QR2 million to QR2.5 million. “The same size villas in Al Khor and Al Thakira, however, sell for approximately QR1.5 million,” the report added. 

As for the price of land in Doha, the Alasmakh report said land prices in Qatar in the second week of October were more stable than the first, and no decrease was witnessed. 

However, price increases were noted in areas that witnessed some sales activity. 

The report added the indicator of land prices gives a signal of growth in the real estate sector, which is expected to witness huge activities in the second half of 2012.

 

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source: Qatar Tribune

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