Doha – Mubasher: The Qatari real estate price index increased at the end of 2022 by 5.20% on an annual basis, reaching the highest level since October 2021.
According to the data published on the Qatar Central Bank today, Tuesday, the Qatari real estate price index at the end of last year scored 223.41 points, compared to 212.36 points at the end of 2021.
On a quarterly basis, the index rose by 4.65%, as it recorded 213.49 points at the end of the previous September.
The rise in the index reflects the momentum witnessed by the real estate sector in the wake of the Gulf state’s hosting of the FIFA World Cup Qatar 2022, the country’s attraction to fans from different countries of the world, and the boom in the sector.
According to the data of the Qatari Central Bank, the index is updated quarterly, and is based on data issued by the Ministry of Justice on a regular basis, and the bank had launched it in 2011; To measure real estate prices in a documented way to enable Islamic banks and banks to evaluate real estate credit portfolios.
-The index represents an early warning of any changes that may occur in the real estate market, negatively affecting the real estate and construction banking credit sector. Banks resorted to it in the aftermath of the 2008 global financial crisis..
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