Qatar’s real estate market witnessed a steady and consistent growth over the first quarter of this year compared to the same period last year, according to Qatar Central Bank’s (QCB) Real Estate Price Index.
The QCB’s monthly index has increased to 251.99 in March 2019 from 248.27 in February and 247.96 in January this year. When compared with the same month last year, the index has inched up 2.56 points against 249.43 in March 2018.
The quarterly average of the first three months’ indices (January, February and March, 2019) comes out to be 249.40 against 249.0 for the first quarter of last year (2018), which clearly shows that Qatar’s real estate market has more stable and robust despite the challenging environment and the ongoing unjust blockade by the Arab Quartet (Saudi Arabia, the UAE, Bahrain and Egypt).
The QCB’s monthly real estate indices for January (247.96), February (248.27) and March (251.99) this year also suggest that the market has been witnessing steady and sustained growth this year compared to the same period last year.
When we analyse the indices of the first three months last year—January (252.80), February (244.77) and March (249.43)— we see that the real estate market was relatively volatile and growth was inconsistent.
The index had declined to 235.51 points in June 2018, the lowest for the year, which eventually increased to 248.38 points in November before ending the year at 246.17 points in December 2018. The QCB index on real estate had peaked to all time high at 311.5 in December 2015 following the real estate boom in the country.
QCB generates a Real Estate Price Index based on the data issued by the Ministry of Justice (MoJ).