Real estate market sees revival again [Peninsula, The (Qatar)]
(Peninsula, The (Qatar) Via Acquire Media NewsEdge) DOHA: After weeks of stagnation, Qatar's real estate market has again begun showing signs of revival, evidenced from transactions concluded in the week ended on May 15, totalling QR1.63bn ($400m).
Some 242 transactions were recorded by the Real Estate Registration Department at the Ministry of Justice in the week from May 11 to 15.
The total value, according to Qatar News Agency (QNA), was QR1.63bn, up from under QR1bn deals in the previous weeks.
Transactions totalled less than 150 (133) in the week before the one under review (May 11 to 15), figures show.
A house admeasuring 5,114sqm in Nuaija area of Doha was sold for QR150m in the week, while another of 2,475sqm was sold for QR48m, figures show.
Asked for comment, real estate expert, Khalifa Al Muslemani, told this newspaper demand for real estate was high at the moment.
He expected the sector to witness 25 percent growth in the first half of this year over the corresponding period of 2013, fuelled by demand.
According to him, banks were providing soft loans for real estate and that was aiding transactions. High real estate prices hardly have any negative impact on the market, observers said.
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