Qatar Real Estate Index hits record

By Rahul Vaimal, Associate Editor
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The latest Ezdan Real Estate report from Qatar has revealed that its regional real estate price index has hit record levels after the property sale market in the state gained momentum following the conclusion of 183 sale deals which were mostly concentrated in the municipalities of Doha and Al Daayen

According to the report, this rise has been attributed to the decline of the COVID-19 outbreak curve and the gradual ease down of lockdown restrictions.

The breakdown of property sales volume from July 12-16, 2020 released by the Real Estate Registration Department reflected a total record of 183 sale deals worth $215.19 million distributed over seven municipalities: Umm Salal, Al Khor and Al Thakhira, Doha, Al Rayyan, Al Shamal, Al Daayen, and Al Wakrah, which included vacant land lots, housing, multi-use buildings, multi-use space, and residential buildings.

Doha Municipality accounted for the highest deal in terms of value by selling a piece of a vacant land lot in Legtaifiya spanning over an area of 2,910 sq.m at $263.11 per square foot, totaling $8.24 million

Doha Municipality also observed the sale of a land lot in Legtaifiya, which covers an area of 6,749 sq.m The deal was completed at an advance price of $109.86, totaling $7.99 million.