Around 12600 residential units expected in fourth quarter of 2022 – The Peninsula

Around 12600 residential units expected in fourth quarter of 2022 – The Peninsula

The residential sector remains attractive to real estate investors. Around 12,600 residential units are expected to be added to Qatar’s realty market in the fourth quarter (Q4) of 2022 according to a report released by the real estate consultancy firm ValuStrat.

“Approximately 12,600 units are in the pipeline for Q4 2022 of which 72 percent of this additional supply comes from two master projects in Al Wukair,” noted the third quarter (Q3) Real Estate Market report by ValuStrat.

The residential stock exceeded 310,700 units with the addition of 600 homes during Q3 2022. New additions during the quarter include low-rise residential projects in The Pearl, Lusail, Duhail, Al Wakrah, Old Ghanim, Al Sadd and Umm Ghuwailina.

Ezdan Real Estate launched Al Janoub Gardens this quarter which is projected to add 2,368 fully furnished apartments once completed by the end of 2022.

Regarding residential sales the Q3 report noted that the transaction volumes witnessed substantial declines this quarter, down 44 percent quarter on quarter (QoQ) and 39 percent year on year (YoY). The median transacted ticket size for houses was QR2.6m, up by 6 percent QoQ, but 1.9 percent lower than Q3 2021.

Al Wakra, Muaither, and Al Khor had the highest volume of transactions of