Doha: The volume of mortgage transactions of the real estate sector in Qatar recorded 332 transactions with a total amount of QR24.947bn during the fourth quarter (Q4) of last year.
Meanwhile the volume of mortgage transactions during Q4 2023 totalled 318 with a amount of QR9.077bn. Comparing the transactions of the last year with 2023 shows a surge of 174 percent on year-on-year basis.
Al Rayyan Municipality registered the highest number of mortgage transactions with 105 (equivalent to 31.6 percent) of the total number of mortgaged properties, followed by Doha Municipality with 103 transactions (equivalent to 31 percent). Then Al Dhaayen Municipality with 51 transactions (equivalent to 15.4 percent) of the total number of mortgaged properties, according to data by Ministry of Justice.
Regarding the value of mortgages in Q4 2024, Doha Municipality comes first with amount of QR16.081bn while Al Shamal Municipality registered the lowest value which reached QR1.800m. Comparing to Q4 2023, Doha Municipality comes first with amount reaching QR5,787bn while Al Shamal Municipality registering the lowest value of QR6.762m.
Considering the indicator of movement of mortgage transactions by studying the ratio of the number of mortgaged properties to the ratio of their financial value, the data revealed the ratio of the number of mortgaged properties is greater than the ratio of the amounts of mortgage transactions in all municipalities that witnessed mortgage transactions, except for Doha and Al Wakrah municipalities. It was found that the amounts of mortgage transactions achieved a higher rate compared to the number of mortgage transactions.
A quick glance and tracking the movement and volume of mortgage transactions that were processed during Q4 2024 it showed that Doha Municipality registered six mortgaged properties while Al Rayyan and Al Wakrah municipalities has registered two properties for each of the top ten mortgaged properties.
The volume of mortgage transactions for the top ten properties reached 69 percent of the total value of all the mortgage transactions that were processed during Q4 2024.
In 2023, Al Rayyan Municipality registered the highest number of mortgage transactions with 130 (equivalent to 40.9 percent) of the total number of mortgaged properties, followed by Doha Municipality with 90 transactions (equivalent to 28.3% percent). Then Al Dhaayen Municipality with 35 transactions (equivalent to 11 percent) of the total number of mortgaged properties.
Meanwhile, during Q4, 2024 of previous year the trading movement in the residential units witnessed a decrease in trading volume compared to same month last year where the number of deals reached 256 for the residential units with a total value of QR512.894m.
The trading volume revealed the value of top 10 properties for Q4 2024 registered five properties in Doha Municipality, two properties in Al Dhaayen, and one property each in Al Rayyan and Umm Salal and Al Wakrah municipalities.
Qatar's Third National Development Strategy (NDS3) relies heavily on the real estate sector. The goal is to make Qatar more attractive to investors and businesses. It aims to create a welcoming environment for both investors and skilled workers and to prioritise economic sectors and ensure a high quality of life for everyone living in Qatar.
