Oman’s real estate landscape: Residential land prices surge, apartment values dip

Oman’s real estate landscape: Residential land prices surge, apartment values dip

According to statistics released by the National Centre for Statistics and Information, the Sultanate of Oman's real estate market witnessed a dynamic shift in the fourth quarter of 2023.

The post Oman’s real estate landscape: Residential land prices surge, apartment values dip appeared first on The Arabian Stories News.Muscat – While residential land values soared by 5.5 per cent, residential apartment prices experienced a notable decline of 10.2 per cent, signalling a mixed landscape in the housing sector.

In a noteworthy development, residential land prices surged to RO 112.3 million, marking a robust 5.5 per cent increase from the previous quarter. Meanwhile, the residential apartment segment saw a downturn, with prices plummeting 10.2 per cent to RO 18.2 million. Villas also experienced a decrease, slipping by 6.2 per cent to RO 25.2 million, alongside other homes, which dipped by 7.6 per cent to RO 7.6 million.

The residential real estate price index exhibited a modest uptick of 0.7 per cent compared to the third quarter of 2023. While the residential land price index increased by 0.2 per cent, residential apartments registered a 1.9 per cent increase, and villas saw a marginal rise of 0.7 per cent. Conversely, other homes witnessed a significant surge