Value of real estate deals in Oman rise 16.8% to RO 1.6bln

Muscat: The total value of real estate trading in the Sultanate of Oman by the end of July 2023 recorded an increase of 16.8 percent to reach one billion, 626 million and 400 thousand Omani riyals, compared to one billion, 392 million and 400 thousand Omani riyals in 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 38.3 million Omani riyals, an increase of 10.9 percent compared to the end of July 2022, while the traded value of sales contracts amounted to 619 million Omani riyals for 38,440 sales contracts with a decrease in value. A rate of 10 percent, with a decrease in the number of contracts by 4.2 percent.

The traded value of mortgage contracts increased by 44.1 percent, recording one billion and 1.7 million Omani riyals for 14,029 contracts, while the number of swap contracts reached 840 contracts, worth 5.9 million Omani riyals. The number of properties issued by the end of last July reached about 137,850 properties, an increase of 4.9 percent, while the number of properties issued to citizens of the Gulf Cooperation Council reached 751 properties, an increase of 91.6 percent.

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