Number of Doha property sales transactions up 20 per cent

There was a 35 per cent increase in the value and a 20 per cent 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 (those designated areas where only Qatar and GCC nationals can buy land), says the latest Asteco Q4 2012 Qatar report.

Broken down still further, in Q4 2012 there was a 44 per cent increase in the total value and a 2 per cent 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 per cent and the volumes of transactions went up by 42 per cent 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.

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