A 1,820-square-metre residential building in Al Rayyan Municipality’s Al Waab zone was at the heart of Qatar’s biggest property deal in the second week of March, notching QR21.55 million at QR1,100 per foot, according to Utopia Properties.
In addition, a 592-sqm commercial building in Doha Municipality’s Madinat Khalifa South zone was sold for QR13.8 million, at QR2,166 per foot. Doha Municipality’s Najma zone also witnessed a deal for a 924-sqm residential building worth QR12 million, at QR1,207 per foot.
The value of real estate transactions in Qatar recorded QR237.1 million during the second week of March with a decrease of 30 percent compared to the previous week, Utopia said.
While that period witnessed the execution of 74 real estate deals, with a decrease of 13 percent and an average of QR3.2 million per deal, according to the data of the weekly real estate bulletin issued by the Real Estate Registration Department at the Ministry of Justice from 6 to 10 March 2022.
The weekly real estate index issued by the Market Research Department at Utopia Properties indicated that the real estate deals that were executed during the second week of this month varied to include 39 houses deals that accounted for 53 percent of the total number of weekly transactions with a total value of QR113.7 million, 29 deals of vacant land with a total value of QR59.7 million, five deals of residential buildings with a total value of QR50 million and one commercial building with a value of QR13.8 million.
The houses deals that were registered on the second week of March amounted to QR13.7 million through the execution of 29 deals, with an average of QR2.92 million per deal, and their average price was QR436 per foot.
The highest average price was recorded in Al Daayen Municipality, which witnessed the execution of 16 deals worth QR41.1 million with an average of QR547 per foot. It is followed by Doha Municipality with five deals worth QR19.6 million at an average of QR480 per foot; Umm Slal Municipality with three deals worth QR8 million at an average of QR433 per foot, and Al Rayyan Municipality with 10 deals worth QR28.2 million at QR424 riyals per foot. Al Shahaniya Municipality witnessed just one deal, worth QR2.2 million at QR235 per foot.
In terms of vacant land deals, their total value amounted to QR59.7 million through the execution of 29 deals, with an average of QR2.1 million per deal, and an average price of QR346 per foot.
Doha Municipality topped the list in terms of the number of deals by executing 10 deals worth QR28.1 million at an average of QR561 per foot. It is followed by Al Daayen Municipality with two deals for vacant lands worth QR4.11 million at QR335 per foot; Al Rayyan Municipality with five deals worth QR7.9 million at QR279 per foot; Al Wakrah Municipality with three deals worth QR7.05 million at QR271 per foot, and Umm Slal Municipality with one deal worth QR1.4 million at QR240 per foot. The lowest price per foot among vacant land deals was in Al Shamal Municipality, which recorded three deals worth QR5.5 million at QR150 per foot.