Oman’s real estate trading value rise by 37.8 pc

By News Desk on July 2, 2023

Muscat: The total value of real estate trading in the Sultanate of Oman increased by 37.8 percent to reach RO 1,220.6 million by the end of May 2023 compared to RO 885,6 million during the same period of 2022, according to the latest data issued by the National Center for Statistics and Information.

The figures revealed that the total fees collected for all transactions amounted to RO 28.9 million, an increase of 17.5 percent compared to the same period of May 2022.

While the traded value of sales contracts increased by 6.4 percent, to stand at RO 468 million, the number of sales contracts declined by 4.1 percent.

The statistics indicated a rise in the traded value of mortgage contracts by 70.3 percent, recording RO 748.4 million for (10,110 contracts). Meanwhile the number of swap contracts reached 620 at value of OMR 4.2 million.

The number of title deeds issued by the end of May 2023 reached about 99,893, comprising a rise of 7.6 percent, while the number of issued title deeds for Gulf Cooperation Council citizens surged by 68.1 percent to reach 516. – ONA

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