Realty sector records 42% rise in mortgage transactions in Q2
The Peninsula
Doha, Qatar: The volume of mortgage transactions achieved during second quarter (Q2) of this year reached 376 transactions with a total amount of QR15...
Doha, Qatar: The volume of mortgage transactions achieved during second quarter (Q2) of this year reached 376 transactions with a total amount of QR15.479bn showing a rise of 42 percent compared to the same period in last year according official data by Ministry of Justice.
Doha Municipality registered the highest number of transactions which totaled 133 (equivalent to 35.4 percent) of the total number of mortgaged properties, followed by Al Rayyan Municipality with 97 transactions (equivalent to 25.8% percent). Then Umm Slal Municipality with 90 transactions (equivalent to 23.9 percent) of the total number of mortgaged properties.
The official data also revealed in second quarter of last year, the volume of mortgage transactions reached 264 transactions with a total amount of QR12.406bn.
Doha Municipality registered the highest number of mortgage transactions with 124 (equivalent to 47 percent) of the total number of mortgaged properties, followed by Al Rayyan Municipality with 69 transactions (equivalent to 26.1% percent). Then Al Dhaayen Municipality with 32 transactions (equivalent to 12.1 percent) of the total number of mortgaged properties.
Regarding the value of mortgages in Q2, 2024 Doha Municipality comes first with amount of QR11.785bn while Al Shamal Municipality registered the lowest value which reached QR7.552m. Comparing to Q2, 2023 Doha Municipality comes first with amount of QR6.170bn while Al Shamal Municipality registered the lowest value which reached QR1.65m.