Volume of mortgage transactions in Qatar rise by 42 percent in second quarter
Date
7/23/2024 4:23:00 AM
(MENAFN) In the second quarter (Q2) of this year, the volume of mortgage transactions in Qatar saw a significant increase, reaching 376 transactions with a total value of QR15.479 billion. This represents a 42 percent rise compared to the same period last year, according to data from the Ministry of Justice.
Among the municipalities, Doha recorded the highest number of transactions, totaling 133, which constitutes 35.4 percent of the total mortgage transactions. Al Rayyan Municipality followed with 97 transactions, making up 25.8 percent, and Umm Slal Municipality was next with 90 transactions, accounting for 23.9 percent of the total.
In comparison, during Q2 of the previous year, the volume of mortgage transactions was 264, with a total amount of QR12.406 billion. Doha Municipality again led with 124 transactions, representing 47 percent of the total, followed by Al Rayyan with 69 transactions (26.1 percent), and Al Dhaayen with 32 transactions (12.1 percent).
When examining the value of mortgages in Q2 of 2024, Doha Municipality had the highest value, amounting to QR11.785 billion, while Al Shamal Municipality had the lowest value at QR7.552 million. This contrasts with Q2 of 2023, where Doha Municipality also led with QR6.170 billion, and Al Shamal recorded the lowest value of QR1.65 million.
The data further indicates that, although Doha Municipality leads in both the number and value of mortgage transactions, the overall rate of increase in mortgage transaction values surpassed the increase in the number of transactions across other municipalities. This suggests that while the number of transactions has grown, the total value of these transactions has grown at an even faster rate.
MENAFN23072024000045015839ID1108470335
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.