FINANCIAL NEWS

Doha posts 20% rise in 2012 property sales volume

18 Feb 2013

(MENAFN) Asteco, the real estate services company, said that in 2012, property sales in Doha grew by 20 percent in volume terms to 7,000 deals, reported Arabian Business.

The firm added that in Doha Municipality, the value of real estate sales climbed by 35 percent from 2011, with the bulk of the sales recorded in non-freehold areas.

Apartment blocks sales in non-freehold areas soared by 87 percent in terms of value in 2012’s last quarter from the third quarter, while sales in terms of volume surged by 42 percent.

On the other hand, villa deals jumped by 44 percent in value terms and rose by 2 percent in volume terms in the fourth quarter.

Asteco noted that prices in the Pearl Viva Bahriya were at USD4,200 per sqm, whereas those in Porto Arabia were at USD3,7000, both freehold areas.

Furthermore, average leasing rates for a 2-bedroom apartment in Bin Omran and Al Maamoura averaged USD1,500 per month, while those in West Bay were at USD2,700 a month and leasing rates in Pearl-Qatar were at USD3,500.

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