Oman real estate trading drops 20.2% by end of January 2024


Muscat: The value of real estate transactions in the Sultanate of Oman fell by 20.2% to RO 207.8 million by the end of January 2024, compared to RO 260.5 million during the same period in 2023, according to the latest data released by the National Centre for Statistics and Information (NCSI).

The data indicate that the fees collected for all legal actions amounted to RO 6.6 million by the end of January 2024, comprising an increase of 13.4% compared to the corresponding period of 2023.

Traded value of sale contracts decreased by 14.7% to RO 101 million at the end of January 2024, while the number of sale contracts rose by 6.6% to 6,124.

Traded value of mortgage contracts decreased by 25.4% to RO 105.4 million compared to RO 141.3 million during the same period of 2023. The number of mortgage contracts also fell by 10.4% to 1,522 contracts.

The number of ownership deeds issued by the end of January 2024 fell by 4.7% to 20,612, and the number of ownership deeds issued to citizens of GCC countries also fell by 9.9% to 100.  – ONA

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