The value of real estate transactions in Oman rose by 30.1% to approximately $7.65 billion (OMR 2.943 billion) by the end of October, compared to $5.88 billion (OMR 2.2618 billion) in the same period last year, as per data from the National Centre for Statistics and Information (NCSI).
Fees collected for legal transactions amounted to $147.2 million (OMR 56.7 million), reflecting a 2.1% increase compared to the corresponding period in 2023.
The value of sale contracts reached $2.39 billion (OMR 913.4 million), while the number of sale contracts rose by 2.1% to 56,259 from 55,128 in the same period of 2023.
Mortgage contract values grew significantly, increasing by 47.9% to $5.28 billion (OMR 2.018 billion), compared to $3.57 billion (OMR 1.364 billion) in 2023. However, the number of mortgage contracts declined by 13.2% to 17,187, down from 19,800 in the same period last year.
The value of barter contracts increased by 19.3% to $30.4 million (OMR 11.7 million), compared to $25.5 million (OMR 9.8 million) in 2023. The number of barter contracts dropped by 4% to 1,135 from 1,182.
The total number of properties issued by October 2024 fell by 3.3% to 191,871. However, properties issued to citizens of GCC countries rose by 8.3%, reaching 1,209 compared to 1,116 in the same period of 2023.
