Oman records over RO 2.6bln in value of real estate trading

Real estate trading value in Oman exceeds OMR 2.6 billion by end December 2023

Muscat: The total value of real estate transactions in the Sultanate of Oman by the end of December 2023 increased by 6% to reach OMR 2,607.1 million compared to the same period of 2022 when it stood at OMR 2,459.3 million, according to the latest data issued by the National Centre for Statistics and Information (NCSI).

The total collected real estate transaction fees reached OMR 64.9 million, constituting a rise by 4.2% compared to the end of 2022. The value of sale contracts stood at OMR 1,044.5 million (65,649 contracts), comprising a drop by in value and the number of contracts by 7.7% and 4.3%, respectively. Statistics indicate a rise in the value of lease contracts by 18.3% to stand at OMR 1,551.5 million (22,774 contracts).

Meanwhile, exchange agreements stood at 1,394 (worth OMR 11.2 million). The number of ownership deeds by the end of 2023 stood at 235,390, comprising a rise by 0.9%. Meanwhile, the number of ownership deeds issued to GCC citizens reached 1,316, up by 48.9%.

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