Oman’s real estate transactions exceed OMR207mn

Oman’s real estate transactions exceed OMR207mn

Muscat: The value of real estate transactions in the Sultanate of Oman fell by 20.2 per cent to OMR207.8 million by the end of January 2024, compared to OMR260.5 million during the same period in 2023, according to the latest data released by the National Centre for Statistics and Information (NCSI).

The data indicate that the fees collected for all legal actions amounted to OMR6.6 million by the end of January 2024, comprising an increase of 13.4 per cent compared to the corresponding period of 2023.

The traded value of sale contracts decreased by 14.7 per cent to OMR101 million at the end of January 2024, while the number of sale contracts rose by 6.6 per cent to 6,124.

The traded value of mortgage contracts decreased by 25.4 per cent to OMR105.4 million compared to OMR141.3 million during the same period of 2023.

The number of mortgage contracts also fell by 10.4 per cent to 1,522 contracts.

The number of ownership deeds issued by the end of January 2024 fell by 4.7 per cent to 20,612, and the number of ownership deeds issued to citizens of GCC countries also fell by 9.9 per cent to 100.