Real Estate Transactions in Oman fell by 19.8 pc to RO 760 Million till April 2024

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Muscat: The value of real estate transactions in the Sultanate of Oman fell by 19.8% to RO 760.2 million till the end of April 2024, compared to RO 948 million in the same period of 2023, according to the latest data released by the National Centre for Statistics and Information (NCSI).

According to Preliminary statistics issued by NCSI, fees collected for legal transactions amounted to RO 20.5 million till the end of April 2024, a drop of 8% compared to the corresponding period of 2023. The value of sale contracts rose by 2.5% to RO 359.4 million till the end of April 2024.

The number of sale contracts rose by 0.7% to 21,385, compared to 21,245 in the same period of 2023. The value of mortgage contracts declined by 33.2% till the end of April 2024 to RO 397.2 million compared to RO 594.6 million during the same period of 2023. The number of mortgage contracts also fell by 14.6% to 6,482 contracts from 7,586 contracts in the same period of 2023.

The traded value of barter contracts rose by 33% to RO 3.6 million till the end of April 2024 compared to RO 2.7 million in the same period of 2023. The number of barter contracts rose by 1.5% to reach 465 contracts till the end of April 2024 compared to 458 contracts in April 2023.

The number of title deeds issued by the end of April 2024 fell by 5.5% to 72,181. The number of title deeds issued to GCC citizens also dropped by 4.2% to 410 compared to 428 title deeds till the end of April 2023.

 

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