Qatar's Real Estate Trading Volume Growth in 2024

The Qatar real estate market is progressing with big achievements. Its trading volume is exceeding expectations in 2024. The growth of investment activities, the inauguration of new projects, and government reforms are the basic reasons behind the surge in Qatar's real estate trading volume. The property market is thriving with new residential projects and development projects. Here, we will discuss some factors and insights that are the reasons for the high potential for trading volume in Qatar.

Reasons for Qatar's Real Estate Trading Volume Growth

Government Initiatives and Reforms

The government engages in different kinds of initiatives and reforms to make the economy stronger and better. It has introduced some policies and reforms to boost foreign investment in the real estate sector. Freehold property zones are providing better opportunities for foreign buyers to invest in prime properties. They can have 100% property ownership in designated areas that include the Pearl, West Bay, Lusail, and Al Khor. The Qatar National Vision 2030 is a major factor behind these reforms and initiatives. It is a road map to focus on economic diversification and real estate development.

Strategic Developments in Lusail and the Pearl

Lusail City and the Pearl-Qatar continue to be key drivers of real estate growth. Both are considered prime investment zones, offering luxury living, commercial spaces, and hospitality developments. Lusail's Qetaifan Island North, in particular, has seen an uptick in demand, with its entertainment facilities and high-end residential areas attracting both investors and buyers. The JMJ Waterfront Residences in Lusail, a development known for its modern amenities and sustainable designs, has also contributed to the increased trading volume, with properties selling out rapidly due to the high demand for waterfront living.

Growing Population and Housing Demand

The growing population is the cause of the growing housing demand in Qatar. Urban areas like Doha and Lusail have more demand for residential properties. The population is expected to grow by 2.3% in 2024. The government is engaged in developing residential projects in the country to meet accommodation needs. Real estate trading volumes have surged due to demand for luxury apartments, spacious villas, and affordable housing options. More and more housing units are being constructed to accommodate the growing foreign community. Greenhouses and green apartments are the latest trends in developing residential communities in Qatar.

Foreign Investment and International Interest

The economy and political status of the country are stable and strong. It provides a tax-free environment and investor-friendly policies to attract foreign investors. That is why the ratio of foreign investment to real estate development is increasing in the country. The increasing international interest in investing in luxury properties is also a big reason for the acceleration of real estate trading volume. International buyers are buying properties in the country and contributing to the rapid increase in trading volume. The influx of foreign investors into the real estate market is very beneficial for real estate development. Qatar Financial Center is recording the big changes in foreign direct investment in real estate. It has increased by 30% in 2024 as compared to the previous year.

Technological Advancements and Smart Cities

The construction industry is developing with the best technological advancements. It is making the living standard higher. The country is offering luxury properties with excellent architecture and amenities. Smart city initiatives and green apartment projects are attracting local investors and foreign investors. Technological advancements in the construction industry are managing residential and commercial spaces with the best features by using sustainable practices. There are new developments in sustainability. Sustainable communities are being developed with smart security systems and energy-efficient solutions. These are the latest initiatives that are attracting more and more real estate investors.

Qatar’s Role As A Regional Business Hub

Qatar’s strategic location and its status as a global energy supplier have turned the country into a regional business hub. The development of free zones and economic cities, such as the Qatar Free Zones Authority (QFZA) and Msheireb Downtown Doha, provide incentives for companies to establish operations in Qatar. As more companies set up offices, the demand for commercial real estate continues to grow, driving up trading volumes. In 2024, the commercial property sector saw a 20% increase in trading volume, with companies looking to expand their footprint in Qatar.

High Returns On Real Estate Investments

Potential buyers and investors find luxury properties and affordable housing options in Qatar. Foreigners can find properties for rent and sale in different budgets and prices with the best facilities and amenities. These properties provide high returns on investment. Hotel apartments and residential properties have higher rental yields here in the main cities of the country. The investors can earn 6% to 8% on residential property investments. These luxury properties have an appreciation of property value in high-demand areas. The increased financing options also help investors and buyers invest in real estate. This overall scenario improves the direct contribution to the growth in trading volume in the real estate sector.

Read Also: Qatar Real Estate Development and Investment in 2024

Real Estate Trading Volume Transcends QR827m in August 2024

The Ministry of Justice, which is the real estate registration department, registered the volume of real estate trading in sale contracts in August 2024. It was QAR 827,058,956. 249 real estate transactions were recorded in this month.

Key Highlights:

Strong market demand across residential and commercial properties.
Increased investor confidence in Qatar's growing economy.
Steady rise in property transactions, boosting the real estate sector.

According to The Peninsula,

"The real estate market index for August 2024 revealed that the financial value of Doha municipality's transactions amounted to QR 287,587,480. The financial value of Al Rayyan municipality's transactions amounted to QR235,384,093, the financial value of Umm Salal municipality's transactions amounted to QR110,585,490, and the financial value of Al Daayen municipality's transactions amounted to QR91,296,641. The financial value of Al Wakrah municipality's transactions amounted to QR52,272,200. The financial value of Al Khor and Al Dhakira municipality's transactions amounted to QR31,750,093, while Al Shamal municipality recorded transactions with a value of QR17,786,959 million."

In the terms of trading space index, pointers revealed that the Al Rayyan, Doha, and Umm Salal regions recorded the most dynamic districts in terms of exchanged land spaces during August 2024, with 34 percent for the Al Rayyan region, followed by the Doha region with 21 percent and Umm Salal with 14 percent.

Concerning the record of the number of land exchanges (sold properties), exchanging files uncovered that the most dynamic districts during August were Al Rayyan with 31%, trailed by Doha with 23%, then Al Dhaayen with 14%. Umm Salal recorded exchanged exchanges with 13%, Al Wakrah with 8%, Al Khor and Al Dhakira with 6%, and Al Shamal with 5% of the all-out land exchanges.

Sales Transactions in Doha

Doha recorded the most significant number of home loan exchanges with 36 exchanges, comparable to 41.9 percent of the complete number of sold properties, trailed by Al Rayyan with 25 exchanges, identical to 29.1 percent of the all-out number of sold properties, trailed by Al Dhaayen with 9 exchanges comparable to 10.5 percent of the all-out number of sold properties, then Umm Salal with 7 exchanges, comparable to 8.1 percent, Al Wakrah with 5 exchanges, identical to 5.8 percent, trailed by Al Khor and Al Dhakira with 3 exchanges, and Al Shamal with 1 exchange. Regarding the worth of home loans, the district of Doha came in the number one spot with a worth of QR 1,418,578,092, with Al Shamal recording the most minimal worth of QR 2,160,000.

Conclusion

Qatar's real estate trading volume is outshining its high potential in 2024. There are different kinds of factors behind this momentum and achievement. The growing foreign population growth, foreign investment, and government reforms are all promoting real estate trading. The high return on investment is attracting foreign investments and foreign buyers more and more. Sustainable urban development is attracting foreigners to settle in the country.

SaakinQatar is contributing to the growth of the real estate market by providing a property listing platform that enables buyers, sellers, and investors to find ideal properties for rent and sale in Qatar easily. Investors can find ideal properties for investments in prime locations. Our website provides up-to-date market data and property market insights to help you make better decisions. We have simplified the property search process by providing more transparency in real estate transactions. You can easily access Qatar's huge property database and real estate agents through our website.