Oman’s real estate market saw a 29.6% surge in total trading value, reaching OMR 3.38 billion ($8.8 billion) by December 2024, compared to OMR 2.60 billion ($6.8 billion) during the same period in 2023.
According to preliminary data from the National Centre for Statistics and Information, legal transaction fees collected amounted to OMR 69 million ($179 million), marking a 6.4% increase from December 2023.
The value of sales contracts reached OMR 1.1 billion ($2.8 billion), reflecting a 4.8% rise, while the total number of sales contracts climbed to 13,668, up by 3.8%.
The mortgage sector saw significant growth, with the traded value of mortgage contracts jumping 46.4% to OMR 2.27 billion ($5.9 billion) across 20,680 contracts. Additionally, 1,325 exchange contracts were recorded, totaling OMR 13.1 million ($34 million).
By the end of 2024, 233,345 title deeds had been issued, showing a slight decline of 0.9%, whereas title deeds issued to GCC citizens rose by 10% to 1,447.
