The real estate sector continues to lead spending rates

Mark
Written By Mark

The Al Asmakh Real Estate Projects Company report said: The real estate sector in Qatar witnessed a growth in the construction of real estate projects during the third quarter of the current year (2024) compared to the same period last year. Stressing that the real estate sector continues its stable pace of work in all components of the real estate market, whether residential, commercial, tourist units or hotel apartments. The report indicated that the value of real estate trading deals during the first nine months of the current year 2024 was about 11.9 billion riyals, compared to 12.391 billion riyals achieved for the same period last year, indicating that the demand for one- and two-bedroom residential units witnessed an increase during this period. .

The Al Asmakh Real Estate Projects report said that the real estate sector in Qatar will continue to occupy first place in terms of spending rates among all sectors during the fourth quarter of this year.
The report expected that next year, 2025, would witness the completion of a number of real estate projects, especially in Lusail City, which has an area of ​​about 1.8 million square metres. Pointing out that the strength of the national economy remains the basic guarantee for the strength and growth of the real estate sector.
Al-Asmakh’s report added: The real estate sector in Qatar will achieve growth in building construction operations during the current year 2024, accompanied by growth in real estate construction operations.

Land prices
The Al Asmakh Real Estate Projects Company report said: The values ​​of real estate transactions witnessed a high performance compared to the previous week, according to the data of the latest bulletin issued by the Real Estate Registration Department in the Ministry of Justice for the week extending from “last September 29 to the current October 3,” where the number of real estate transactions recorded “ 68 transactions, and the report pointed out that the values ​​of real estate transactions reached more than 375.2 million riyals. The report indicated that the municipalities of Doha and Al Rayyan accounted for the large activities in transactions in terms of the number of executed transactions and ranked first and second, respectively. The report indicated that the average number of The transactions executed per day amounted to approximately 14 transactions. While the value of transactions on residential units amounted to more than 36 million riyals, which were implemented during the same period in the Pearl, Lusail, and Legtaifiya.
Regarding the prices per square foot of land on which deals were carried out during the second week of this October, the real estate index of the “Al-Asmakh” company indicated that it witnessed a variation in prices, explaining that the average offer prices per square foot in the Mansoura and Bin Dirham area amounted to “1,380” riyals, and recorded In the Najma area, it was “1,320” riyals per square foot, and the average price per square foot in the Mamoura area stabilized at “385” riyals, and the average price per foot in the Old Airport area stabilized at “870” riyals for buildings.

Prices of residential apartments and villas
Returning to the prices of villas and apartments, the report indicated that the average price of residential apartments in the Lusail area for a one-bedroom apartment is “1.1” million riyals, “1.3” million riyals for a two-bedroom apartment, and “1.9” million riyals for a three-bedroom apartment. Bedrooms. The report indicated that prices vary according to the region, area, and location of the apartment in the residential building.
The report also indicated that the average price per square meter in apartments located in West Bay in the winding towers is estimated at “11” thousand riyals, and there are certain data that may raise the price slightly related to “the location of the apartment and the view inside the two towers.”
The selling prices of new apartments in the Pearl project range from 12,000 riyals to 22,000 riyals per square meter, according to the real estate developer.
In terms of villa prices, the report shows that villa prices vary from one region to another, and decrease as we head north, as the price of a villa in the Al Khor and Al Dhakhira area and its environs for the same area is approximately 2.2 million riyals.