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Mon 7 Sep 2015 09:22 AM

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Omani real estate transactions soar 47% in 6 months

Value of mortgages taken out surged 72.6% in the first half of 2015, gov’t statistics show

Omani real estate transactions soar 47% in 6 months
(Getty Images)

The value of real estate transactions in Oman increased nearly 50 percent to $6.5 billion during the first half of the year, according to the National Centre for Statistics and Information.

The total traded value increased 47.7 per cent to reach 2,497.5 million rials by the end of July compared to the value recorded during same period in 2014, according to data cited by the Oman Tribute.

The traded value of selling contracts increased 12.1 percent to more than $2 billion, the statistics centre revealed.

However, the volume of selling contracts decreased 3.4 percent to 47,287 contracts, compared to 48,964 contracts during the same period of 2014.

The traded value of mortgage contracts increased 72.6 percent to $4.4 billion, compared to $2.56 billion recorded during the same period of 2014.

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