Qatar Real Estate News
Property transactions in Qatar hits an all-time low
Property transactions in Qatar declined drastically from the start of this year, wherein, it fell from QR2.1bn in second quarter of January to QR1.7bn in February.
The first three weeks of last month recorded an average of QR456mn real estate transactions every week. But, in the fourth week it fell abruptly, affecting total transactions of last month.
The weekly real estate statistics posted on the website of Ministry of Justice is QR460.7mn (from 30th January to 3rd February), and QR492.1mn and QR467.7mn during the second and third weeks of last month. But, from 20th February to 24th February, the transactions fell to QR272mn, marking 42percent dip in comparison to previous week.
However, according to property expert, Mansur Al Mansur, the slow performance of the sector is only normal, as it was awaiting the announcement by the government about new plans, particularly pertaining to the FIFA World Cup 2022.
The real estate sector is expected to boom, as soon as the government begins issuing of tenders, as such projects will increase demand and confidence in the sector.
Posted on 14/3/2011