Oman’s Real Estate deals rise 14.2% at the End of August 2021

Oman to announce Long Term Residency
Oman to announce Long Term Residency

Muscat (ONA): The total value of property transactions in the Sultanate at the end of August 2021 increased by 14.2% to reach RO 1,744,100,000 compared to the same period of 2020, as indicated by the preliminary statistics issued by the National Centre for Statistics and Information (NCSI).

The Sultanate’s Government collected RO 50.3 Million as real estate transaction fees at the end of August 2021, which is a rise of 21% compared to the same period of 2020.

The traded value of sales contracts also increased by 51.1% to RO 770,700,000, and the number of sales contracts increased by 74.4% to 56,611 contracts, compared to 32,460 contracts during the same period in 2020.

The trade value of mortgage contracts fell by 0.6% at the end of August 2021, to reach RO 959,600,000, compared to RO 965,100,000 during the same period in 2020.

The number of mortgage contracts till the end of August 2021 reached 12,402, and increased of 55.2% over the same period in 2020, which recorded 7,989 contracts.

NCSI data revealed a significant drop in traded value of exchange (barter) contracts by 73.7% at the end of August 2021 to RO 13.8 million, as against RO 52.5 million posted in the comparable period of 2020.

The number of title deeds issued at the end of August 2021 reached 165,417, and increase by 54.3% over the same period of 2020, in which 107,192 title deeds were issued.

Meanwhile, the number of title deeds issued in favor of the GCC citizens increased by 94.3% to reach 443. compared to 228 during the same period in 2020, the data showed.

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