Real estate trading in Oman up 15.8% to over RO 1.8 bln by August 2023


Muscat: The total value of real estate trading in the Sultanate of Oman recorded an increase of 15.8 percent by the end of August 2023, recording a value of RO 1,834,800,000 compared to RO 1,584,800,000 during the same period in 2022.

Preliminary statistics issued by the National Center for Statistics and Information indicated that the fees collected for all legal transactions amounted to 43.6 million Omani riyals, an increase of 8.3 percent from the end of August 2022, while the traded value of sales contracts amounted to RO 707,800,000 for 44 thousand sales contracts, in the value increased by 8.1 percent, with a decrease in the number of contracts by 5.5 percent.

The traded value of mortgage contracts increased by 39.5 percent, recording RO 1,119,400,000 for 16 thousand and 34 contracts, while the number of swap contracts reached 954 contracts with a value of 7.6 million Omani riyals. The number of properties issued by the end of August 2023 reached about 157,659 properties, an increase of 2.3 percent, while the number of properties issued to members of the Gulf Cooperation Council reached 877 properties, an increase of 76.8 percent.


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