Qatar's real estate market maintained overall stability in the first quarter of 2025, supported by steady residential capital values, a recovery in mortgage lending, and continued leasing activity in commercial sectors, according to the latest Qatar Real Estate Market Report from ValuStrat. In the first three months of 2025, the number of residential sales transactions increased by 13.2% compared to the previous quarter, while transaction values increased by 3.8% over the same period, with transaction values leading the way in high-demand locations such as The Pearl and Al Qasr, which saw sales value growth of more than 50% compared to the previous quarter.
Meanwhile, mortgage transactions across all asset classes of ready properties declined by 2% quarter-on-quarter, but remained down 37% year-on-year. The majority of mortgage volume was concentrated in Doha, with 95 transactions worth QAR 16.4 billion. In the commercial sector, ValuStrat noted a pattern of declining rents across all areas, including prime business districts. Class A rents averaged QAR 116 per square meter per month, with the largest declines recorded in West Bay and Al Sadd. Class B/C rents were largely stable quarter-on-quarter, but declined by 1.9% year-on-year to QAR 67 per square meter per month.
A factor that may have impacted office rents is capacity, with approximately 60,000 square meters of gross leasable area (GLA) added in the first quarter of the year, including Marina 31 in Lusail and Corniche Park Towers in West Bay, bringing the total office supply to 7.3 million square meters of GLA.
The retail sector stabilized during the first quarter, with the addition of Centro Mall and Outlet Village, bringing the total retail space to 2.5 million square meters of new gross leasable area. Average mall rents reached 182.5 square meters per month, while street retail rents in Doha, such as Al Sadd and Old Airport, declined by 10%.
For a detailed perspective on the property market, visit: Qatar - Real Estate Review Q1 2025
