11 September 2018
The total number of properties sold during the month of June reached 267, up 97.8%
The number of real estate transactions signed in June 2018 nearly doubled compared to the corresponding month last year, according to a news report by The Peninsula.
According to the daily newspaper, the total number of properties sold during the month of June (across all eight municipalities in Qatar) reached 267, up 97.8% compared to 135 properties traded in June 2017.
The combined value of real estate transactions signed during the month of June 2018 stood at QR1.33bn, down 62.6% compared to QR3.56bn in June 2017.
According to the latest official data released by the Ministry of Development, Planning and Statistics, Al Khor and Thakhira Municipality (with 34 deals) registered the highest 350% growth (y-o-y), followed by Al Dayeen and Um Slal municipalities witnessing 277.8% and 275.0% growth, respectively.
“In terms of the value of properties sold in different regions, Doha Municipality ranked first with the total transaction value of QR646.9m, up 96.6% compared to QR329.1m worth of deals signed in June 2017,” revealed The Peninsula.
Meanwhile, real estate looks to get a boost following the announcement by the Qatar government that allows expatriates to obtain permanent residency under certain rules and regulations. The law will make it the first Gulf country to do so. The new law will also allow them to own real estate in the country.
About Cityscape Qatar
Cityscape, the world’s leading real estate event portfolio for emerging markets, debuted in the State of Qatar in 2012. The annual event features an exhibition and numerous learning and networking features designed to stimulate the development of Qatar’s real estate industry.
Cityscape Qatar presents an unparalleled line up of opportunities for the local and regional real estate community, as the event allows delegates and visitors to engage in a dynamic environment that gives insight into the future of Qatari and Middle East real estate.
The exhibition showcases infrastructure development projects through Qatar’s National Vision 2030.
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