Doha, September 20 (QNA) - The volume of real estate transactions under sales contracts registered with the Real Estate Registration Department at the Ministry of Justice reached QR1,290,916,518 in August, according to data from the Ministry's Real Estate Analytical Bulletin.

A total of 424 real estate transactions were recorded during the month, with Doha, Al Rayyan and Al Daayen municipalities recording the highest transaction values, according to the Real Estate Market Index. They were followed by Al Wakrah, Umm Salal, Al Khor and Al Thakhira, Al Shamal and Al Shahaniya.

Doha accounted for QR435,501,304 in transactions, followed by Al Rayyan with QR335,501,759 and Al Daayen with QR175,170,269. Al Wakrah recorded QR148,559,213, while Umm Salal registered QR123,981,137. Transactions in Al Khor and Al Thakhira amounted to QR60,473,870, while Al Shamal and Al Shahaniya recorded QR8,321,324 and QR3,407,642, respectively.

In terms of traded real estate area, Doha and Al Rayyan each accounted for 28% of the total, followed by Al Wakrah at 16%, Al Daayen at 10%, Umm Salal at 9%, and Al Khor and Al Thakhira at 7%. Al Shamal and Al Shahaniya each accounted for 1%.

Doha also recorded the largest share of properties sold during the month, accounting for 30% of the total, followed by Al Rayyan at 21% and Al Wakrah at 19%. Umm Salal and Al Daayen each accounted for 10%, while Al Khor and Al Thakhira accounted for 8%, and Al Shamal and Al Shahaniya for 1% each.

Average prices per square foot in August ranged from QR517 to QR892 in Doha, QR253 to QR414 in Al Wakrah, QR357 to QR466 in Al Rayyan, QR353 to QR468 in Umm Salal, QR362 to QR723 in Al Daayen, QR254 to QR457 in Al Khor and Al Thakhira, and QR135 to QR244 in Al Shamal. The average price stood at QR206 per square foot in Al Shahaniya.

The data also showed that the 10 highest-value properties sold during the month included four in Doha, three in Al Rayyan and one in Umm Salal.

Mortgage transactions totaled 103 in August, with a combined value of QR4,007,423,360.

Doha recorded the largest number of mortgage transactions at 35, accounting for 34% of the total, followed by Al Rayyan with 30 transactions, or 29.1%, and Al Daayen with 14 transactions, or 13.6%. Umm Salal recorded 13 transactions, or 12.6%, followed by Al Wakrah with eight, or 7.8%, Al Khor and Al Thakhira with two, or 1.9%, and Al Shamal with one transaction, or 1%.

In terms of mortgage value, Doha ranked first with QR3,623,856,638, while Al Khor and Al Thakhira recorded the lowest mortgage value at QR2.3 million.

An analysis of mortgage activity by comparing the share of mortgaged properties with their share of total mortgage value showed that the share of mortgaged properties exceeded their share of mortgage value in all municipalities where mortgage transactions were recorded, except Doha, where the share of mortgage value was higher than its share of transactions.

Doha accounted for eight of the 10 highest-value mortgaged properties during the month, while Al Rayyan and Al Daayen accounted for one each.

The 10 highest-value mortgage transactions represented 89% of the total value of mortgage transactions recorded during August.

A total of 114 residential unit transactions were registered during August, with a combined value of QR184,461,112.

The August real estate transaction data indicate continued activity across various investment and commercial segments, supported by recent legislation and decisions related to real estate brokerage, registration and documentation, ownership and usufruct, as well as measures aimed at attracting domestic and foreign capital.

 The data also underscore the strength and resilience of the Qatari economy and the continued growth of the real estate sector as one of its key components. (QNA)