DOHA: The value of real estate transactions may breach the QR60bn-mark ($16bn) by 2015-end. The estimate is based on the fact that the transactions were worth a staggering QR53.9bn in the first 11 months of 2015.
In 2014, the total value of property deals was QR56bn, so if the value touches QR60bn-mark by this year-end, the increase will be seven percent.
In the first 11 months of 2014, the value of real estate transactions totaled QR45.5bn, which was 18.5 percent less than the 11-month total of 2015.
The largest volume of transactions was witnessed in the month of January this year (QR11.3bn) followed by April (QR6.4bn), July (QR5.9bn), May (QR5.3bn) and March (QR4.8bn).
August, September, February, June and October were the lean months when the transactions totalled less than QR4bn in each month.
The lowest value was witnessed in September (QR2.3bn). These figures are based on the weekly real estate transaction value released by the Real Estate Registry of the Ministry of Justice.
The State Budget unveiled for 2016 bodes well for the vibrant real estate sector as the total outlay made for construction projects is worth a shopping QR50.6bn, which is a quarter of the total expenditure estimated in the budget.
Real estate evaluators, experts and investors say the real estate sector remains unaffected by the low oil prices in the global markets which are affecting almost every other economic sector.
One businessman said that the property market in Qatar is the most vibrant and growth-oriented in the entire region and will remain so in the years to come as development projects continue in preparation for the 2022 World Cup.
The Peninsula
