Oman real estate deals exceeds RO 2.3 Billion

Muscat: The value of real estate transactions in the Sultanate of Oman by the end of November 2022, reached RO 2,311.5 million compared to RO 2,375.6 million during the corresponding period in 2021, constituting a decline by 2.7%, according to the latest data issued by the National Centre for Statistics and Information.

Fees collected for completed legal transactions amounted to RO 57.7 million compared to RO 78.8 million during the corresponding period in 2021, constituting a fall by 26.8%.

Transactions value of sale contracts dropped by 3.1% to stand at RO 1,073.6 million by the end of November 2022 compared to RO 1,107.9 million during the corresponding period in 2021. The number of sale contracts also went down by 20.6% to reach 64,233 compared to 80,900 by the end of November 2021.

Moreover, transactions value of mortgage contracts went down by 2.2% to stand at RO 1,223.4 million by the end of November 2022 compared to RO 1,251.1 million by November 2021. The number of mortgage contracts increased by 6% to stand at 17,804 compared to 16,795 during the corresponding period in 2021.

Swap contracts’ transactions value declined by 12.9% to stand at RO 14.5 million by the end of November 2022 compared to 16.6 million by the end of November 2021. The number of swap contracts dropped by 23.2% to reach 1,234 compared to 1,606 contracts by the end of November 2021.

The number of title deeds issued by the end of November 2022 reached 216,168, comprising a decrease by 6.6%. Meanwhile, the number of title deeds issued for citizens of GCC countries increased by 6.2% to reach 788 compared 742 during the corresponding period in 2021. – ONA