Qatar property sales rise as mortgage values jump 185%

Qatar's real estate market showed signs of improvement last week, according to data from the General Real Estate Regulatory Authority (Aqarat). The total value of sales contracts rose by 12.3 percent week-on-week to QR 430.7 million, with 120 contracts executed. However, the year-on-year comparison shows a 14.9 percent decrease.

Sales were distributed across different property types, with villas accounting for 49.4 percent of the total sales value, followed by vacant land plots at 43.3 percent, and residential apartments at 27 percent. Al Daayen Municipality led trading volumes, followed by Doha and Al Rayyan municipalities. Mortgage contracts also increased significantly, with 37 contracts worth QR 805.42 million, marking a 184.6 percent week-on-week and 54.2 percent year-on-year increase.

The majority of mortgage values were for vacant land at 50.2 percent, followed by villas at 37.2 percent, and residential buildings at 12.5 percent. Doha Municipality led in mortgage values, followed by Al Rayyan and Al Khor and Al Thakira municipalities. In terms of rentals, Aqarat recorded 502 lease contracts worth QR 4.76 million, a decrease of 13 percent week-on-week and 6.7 percent in the number of contracts compared to the previous week.