• Oman

    • Oman’s real estate trading value decline 11.7% to RO 394.9 million

    By on March 30, 2024

    Real Estate Trading value in Oman sees RO 394 million by end of February 2024

    Muscat: The total value of real estate trading in the Sultanate of Oman witnessed a decrease of 11.7 percent, reaching by the end of February 2024 a value of 394 million and 900 thousand Omani riyals, compared to 447 million and 300 thousand Omani riyals during the same period in 2023.

    Preliminary statistics issued by the National Center for Statistics and Information indicated that the fees collected for all legal transactions amounted to 11.6 million Omani riyals, a decrease of 7.2 percent from the end of February 2023, while the traded value of sales contracts amounted to 196.2 million Omani riyals for 11,543 sales contracts with a decrease in value. Its rate was 5.4 percent, with an increase in the number of contracts by 6.6 percent.

    The traded value of mortgage contracts decreased by 17.5 percent, recording 196 million and 500 thousand Omani riyals for 2,989 contracts, while the number of swap contracts reached 299 contracts, worth 2.2 million Omani riyals. The number of properties issued by the end of last February amounted to about 39,378 properties, an increase of 0.8 percent, while the number of properties issued to citizens of the Gulf Cooperation Council countries reached 212 properties, an increase of one percent.

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