Over 7,000 sales transactions in 2012; value of transactions up by 35% says Asteco Qatar Q4 2012 report

Published on : Monday, February 18, 2013

There was a 35% increase in the value and a 20% increase in the volume of
property sales in Doha Municipality in 2012, compared with the previous year.
Those sales were mainly recorded in the non-freehold/usufruct areas, says the
latest Asteco Q4 2012 Qatar report.

Broken down still further, in Q4 2012 there was a 44% increase in the total value
and a 2% increase in transaction volumes of villa transactions, compared with Q3
2012, indicating a higher average transaction value, according to Qatar’s Ministry
of Justice.

The total value of transactions for apartment blocks in the non-freehold areas
increased in Q4 2012, compared with Q3 2012 by 87% and the volumes of
transactions went up by 42% during the same period, the large variations being
put down to the low number of transactions. Primary market prices, per square
metre, in Porto Arabia-Pearl, Viva Bahriya-Pearl and Lagoon Plaza were QAR
13,500, QAR 15,500 and QAR 12,500 respectively.

“Values of apartments on the Pearl-Qatar (freehold area) have increased
marginally, but significant capital growth may be restricted in 2013 due to
increased supply. However if the planned shopping facilities open and the
national infrastructure projects boost population growth, areas such as Pearl-
Qatar could witness a slight increase in demand,” said Jed Wolfe, Managing
Director, Asteco Qatar.

Source:-Asteco

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