The value of real estate transactions in Oman fell by 19.8 per cent to OR760.2m ($2bn) till the end of April 2024, compared to OR948m ($2.5bn) 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 OR20.5m ($53m) till the end of April 2024, a drop of 8 per cent compared to the corresponding period of 2023.
The value of sale contracts rose by 2.5 per cent to OR359.4m ($934m) till the end of April 2024. The number of sale contracts rose by 0.7 per cent to 21,385, compared to 21,245 in the same period of 2023.
Oman real estate
The value of mortgage contracts declined by 33.2 per cent till the end of April 2024 to OR397.2m ($1bn) compared to OR594.6m ($1.5bn) during the same period of 2023.
The number of mortgage contracts in Oman also fell by 14.6 per cent to 6,482 contracts from 7,586 contracts in the same period of 2023.
The traded value of barter contracts rose by 33 per cent to OR3.6m ($9.4m) till the end of April 2024 compared to OR2.7m ($7m) in the same period of 2023.
The number of barter contracts rose by 1.5 per cent 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 per cent to 72,181. The number of title deeds issued to GCC citizens also dropped by 4.2 per cent to 410 compared to 428 title deeds till the end of April 2023.
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