Real estate market in Qatar remains stable …

Doha: Qatar’s real estate market remained firm in April with rents and transactions maintain upward trend.

Upmarket West Bay witnessed highest rentals with average monthly rental price for villas, mainly compounds, ranged between QR20,000 and QR35,000 in April, according to Century 21 Qatar’s monthly report.

Qatar real estate market recorded QR4.7bn worth of real estate deals in 935 transactions during April. Al Waab area remained the most popular area for medium to high income bracket with villa rental ranged between QR14,000 and QR 26,000.

The lowest villa rental could be found in Al Dhakhira and Al Khor where rental ranged between QR6,000 and QR12,000.

Apartments in Dafna and West Bay between 1 bedroom and 3 bedroom ranged between QR9,000 and QR19,000, respectively, while Old Airport they ranged between QR4,000 and QR7,500. Rentals in Al Sadd, Bin Mahmood and Al Mansoora ranged between QR7,000 and QR12,000.

Premium office rental rate per square metre per month in Doha ranged between QR160 and QR220. The standard office spaces range between QR120 and QR150 per square metre per month, while budget office spaces are let between QR80 and QR110.

During April, vacant plots maintained the top spot by recording the highest value of transaction registering transaction worth of QR2.6bn making an approximate 56 percent of overall transaction value across all real estate assets. Villa transactions recorded the second highest transaction value recording QR1.3bn worth of transaction deals making 28 percent of the total transaction value.

Buildings recorded transactions worth reaching QR425m standing at an equivalent of 9 percent while other mixed and uncategorised real estate assets recorded transaction value reaching QR334m cover an approximate 7 percent of overall value.

In terms of number of deals, vacant plots registered highest deals with 682 transactions making 73 percent of total transactions, followed by villas with recorded 228 transactions making 24 percent of total transactions.

The transactions distribution across the seven municipality witnessed Doha lead transaction value reaching QR2.1bn covering 45 percent of the total. Al Rayyan registered the second highest transaction value with QR1.1 bn. Al Daayen is third highest with QR0.5bn followed by Umm Salal with QR425m. Al Wakra and Al Khor recorded QR332m and QR157m and Al Shamal on the bottom with QR49m. Source: The Peninsula