Aqarat: Real estate weekly sales value drops

The Real Estate Regulatory Authority (Aqarat) revealed a decline in real estate market indicators in the State of Qatar during the past week. The total value of sale contracts dropped 30.9% week over week and 20% year over year, reaching QR482.4mn, with only 118 contracts executed, a 15.1% decrease week over week and a 21.9% year over year decline.

Villas led sales at QR224.7mn, or 46.5%, followed by vacant land at QR197.7mn, 40.9%, then buildings at QR29.8mn, 6.1%, and other property types at QR30.2mn, 6.2%. Al Rayyan Municipality led transactions at QR130.9mn, Doha Municipality at QR116.7mn, and Al Wakra Municipality at QR99.7mn. Mortgage indicators showed a 53.8% week over week decline and an 198.4% year over year increase, with 27 contracts totaling QR1.04bn.

Vacant land accounted for 82.3% of mortgage values, followed by towers at 12.9% and buildings at 4.6%, with Doha Municipality leading at QR923mn. Rental indicators saw a 58.6% week over week and 91.5% year over year decline in value, with 518 contracts at QR4.49mn. Villas led rentals at QR2.29mn, followed by apartments at QR1.23mn, then commercial showrooms at QR0.66mn, and other property types at QR0.31mn, with Al Rayyan Municipality topping at QR2.0mn.