Qatar’s real estate transaction value hits USD10.21b in 9M

26 Oct 2014

(MENAFN) The value of Qatar’s real estate transaction increased by 15.2 percent to reach USD10.21 billion during the January-September period of this year, compared to USD8.86 billion recorded during the same period last year, while the value of transactions during the July-September period reached USD3.10 billion, increasing 6.6 percent compared to the same period in 2013, The Peninsula Qatar reported.

In terms of quarters, the first quarter registered the biggest surge, with the total volume of real estate transaction in it growing by 35.2 percent compared to the first quarter of last year, while the volume of transaction grew by 8.5 percent during the second quarter compared to the same quarter of last year.

In terms of months during the first nine of this year, July registered a significant growth in the value of transaction, with the value reaching USD1.86 billion during that month, which is up 23.6 percent compared to July 2013, but January registered the biggest value, when the value of transactions hit USD1.31 billion, an increase by 71.8 percent compared to the same month in 2013.

However, the trade value fell to USD795.99 million in February, down 6.5 percent compared to the same month in 2013, before rebounding to USD1.15 billion in March, up 44.8 percent compared to the same month in 2013.

“Qatar’s real estate sector is witnessing an exponential growth. The transaction value of the country’s real estate sector is expected to grow by 30 percent by the end of this year,” Al Sharq, which released a report regarding this topic, was quoted saying in that report.