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Qatar Q3 property transactions down by 30%

09 Dec 2012

(MENAFN) Asteco, the real estate consultancy, stated that in the third quarter, real estate deals in Qatar plunged by nearly 30 percent, reported Arabian Business.

The firm said that rental rises also decelerated in the period as a result of the supply of new stock, the holy month of Ramadan and the quieter summer months.

Nevertheless, the Pearl-Qatar development posted strong performance in the quarter, with transactions for 2- and 3-bedroom apartments exceeding those for one-bedroom apartments.

It noted that nearly 50 percent of total transactions were for two-beds, compared with 38 percent for the second quarter and 34 percent for the first.

Furthermore, demand for villas in upmarket locations has been steady with a marginal rise in rents.

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