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Real Estate Market in Qatar Records a $4.59 Billion Deal in 2023



Real Estate Market in Qatar Records a $4.59 Billion Deal in 2023

Data from the Ministry of Justice shows that in 2023, the real estate market in Qatar saw unprecedented growth, with 3,579 transactions valued at QAR16.703 billion ($4.59 billion). Strong GDP growth, population growth, job opportunities, and supportive government policies were some of the factors that contributed to that growth. The industry will keep growing and changing as a result of record-breaking transaction volumes and a spike in investment.

Transaction volumes surpass all previous records

February of 2023 saw the greatest activity in Qatar’s real estate market, with 382 transactions totaling QAR2.040 billion. March and May had 340 and 337 transactions, respectively, in close succession.

The Doha, Al Rayyan, and Al Dhaayen Municipalities were the most active in terms of financial value, according to Qatar’s real estate market index for 2023. The largest value of transactions was QAR6.820 billion, which was made by the Doha Municipality. Second place went to the Al Rayyan Municipality, whose transaction values totaled QAR4.577 billion. Furthermore, the Al Dhaayen Municipality secured the third position with QAR 2.131 billion in transaction value.

Real estate sales

Al Rayyan accounted for 26% of all real estate sales in 2023, making it the most active municipality in this regard. Doha ranked second, accounting for 23% of the total sales. Al Dhaayen, on the other hand, came in third place with 16% of all real estate sales in Qatar.

Al Rayyan was the municipality with the most trading activity in the real estate sector of Qatar, accounting for 32% of all transactions. Al Wakrah came in third place with 17 percent of the deal area, while Doha came in second with 22 percent.

Mortgage transactions

In Qatar’s real estate market, there were 1,347 mortgage transactions in 2023, totaling QAR45.641 billion.

With 547 of the total number of mortgaged properties, the Doha Municipality recorded the most mortgage transactions. Al Rayyan Municipality, with 360 transactions, came in second. Of all the mortgaged properties, Al Dhaayen Municipality came in third place with 226 transactions.

The Doha Municipality held the top spot in terms of mortgage value, valued at QAR30.055 billion, while the Al Shamal Municipality registered the lowest value, valued at QAR17.872 million.

Investor-friendly reforms

In 2023, Qatar implemented fresh property ownership regulations that permit non-Qatari nationals to possess real estate and make real estate investments. Investors can take advantage of various benefits from these initiatives, including free healthcare, free education, permanent residency, and the ability to invest in specific commercial ventures.

Financial institutions also provide flexible and competitively priced mortgage loans. Both homebuyers and investors find this appealing. In addition, Qatar is a great place for real estate projects because of the increasing variety of properties and the abundance of cultural and entertainment options.

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