Qatar’s real estate market is expected to grow in the long run, owing to several infrastructure projects and developments, industry expansion across the country, and government-sponsored investment-friendly initiatives.
There has been a significant growth in the value of mortgage transactions across all asset classes, growing by 89 percent on a quarter-on-quarter (Q-o-Q) basis and 36.8 percent on a year-on-year basis (YoY), according to Real Estate Research First Quarter (Q1) 2024 by ValuStrat, released yesterday.
In the first quarter of 2024, the Qatar real estate market saw 236 mortgage transactions across all asset classes, including ready properties. The total sales value attributed to mortgage transactions was QR16.8 billion, up 89 percent quarterly and 36.8 percent year on year.
Furthermore, villas had the most traded units, with a 6.6 percent increase year on year. This advancement is most likely due to the Qatar Central Bank’s housing loan amendments introduced last year.
In the first quarter, Doha completed 91 transactions and Al Rayyan completed 76, totaling approximately QR9.6 billion and QR7.5 billion, respectively.
The Third National Development Strategy (NDS3) places a strong emphasis on the real estate sector. The strategy will allow Qatar to continue to foster a business- and investor-friendly environment. Qatar is determined to make itself one of the most attractive destinations for investments and talent while prioritizing economic sectors and aiming to maintain a high standard of living for citizens and residents.
The Law No. 5 of 2024 on real estate registration contains new articles and provisions that will help to regulate the sector and increase its investment attractiveness by providing advanced electronic facilities and services to all stakeholders and those involved in the country’s real estate sector.
The second edition of the Qatar Real Estate Forum will take place on October 13 and 14, with participation from numerous local and international organizations.
The forum’s primary goal is to identify the real estate opportunities available in Qatari markets, with the expectation that Qatar’s real estate achievements will dazzle everyone over the next 15 years.
Last year, Qatar’s Ministry of Municipality and Environment launched the first phase of the Unified Real Estate Platform, which updated leasing and sales/mortgage data. The purpose of the unified real estate platform, created through collaboration between the government and the private sector and per the wise leadership’s directives, is to provide a transparent real estate sector and adequate data to facilitate investment procedures.
