Doha was the most sought-after destination among real estate buyers in the year 2018. The Doha Municipality topped the country in terms of real estate deals too, last year, when Doha recorded real estate transactions worth QR10.7bn last year, leaving behind a wide margin with other municipalities.
Doha was followed by Al Rayyan in terms of transaction values, while Al Daayen took the third position.
Al Wakrah has undergone considerable infrastructure development over the past few years, and was on the fourth place in terms of real estate transactions.
According to the data of the Ministry of Development Planning and Statistics, the value of properties sold in Al Rayyan Municipality was QR6.37bn in 2018, while in Al Daayen Municipality it was QR2.76bn, and total real estate deals in Al Wakrah Municipality was QR1.84bn in 2018.
Generally, real estate deals is among the main gauge of attractiveness in any real estate market, and high number of deals indicate that Doha is among real estate buyer’s favourite property market in Qatar, a senior official of a real estate company commented to the media.
Doha is a prime real estate market in Qatar, and properties here command premium, in comparison to other municipalities. Even a small property here carries high value, than bigger property in any other municipality. Therefore, even if the number of deals in Doha is less than in other areas, it stands at the top in terms of total deal value, he said.
Doha is also home to various popular residential and commercial properties including The Pearl, Msheireb, West Bay, Downtown Doha etc., which has been always popular among real estate investors.
Although Doha sits on the top of Qatar’s real estate market, without doubt, other real estate markets are catching up too, given, the rapid infrastructure development. Areas like Al Daayen and Al Wakrah are fast developing, and can provide better returns to real estate investors.
Several companies unveiled offers last year to stimulate real estate activity. The rental incentives such as rent-free periods, rents that are inclusive of utility bills were offered as incentives to attract tenants.
The residential sales activity grew 11 percent overall during 2017 and 2018, as purchases took advantage of the fall in values.
In the investment market, apartments in The Pearl Qatar are now being sold for prices in the range QR12500 and QR15000 per sqm with the highest prices being achieved in Viva Bahriya, said the real estate consultancy firm DTZ Qatar, in its report.