The traded value of real estate in Oman rose by 6.4 percent, reaching OMR1,730.2 million (OMR1.7 billion or $4.41 billion) by the end of July 2024, compared to OMR1,626.4 million during the same period in 2023, as reported by NCSI.
Preliminary statistics from the National Centre for Statistics and Information show that fees collected for all legal transactions totaled OMR38.2 million by the end of July 2024, reflecting a slight decrease of 0.4 percent compared to the previous year.
Read more: Growing GCC interest drives $3.66 billion real estate market in Oman
The total value of sales contracts reached OMR631.3 million by the end of July 2024, with the number of sale contracts rising by 0.5 percent to 38,627, compared to 38,440 in the same period of 2023.
Additionally, the value of mortgage contracts saw an increase of 8.9 percent, totaling OMR1,090.7 million by the end of July 2024. However, the number of mortgage contracts declined by 15.9 percent, dropping to 11,799 from 14,029 in the same period of 2023. The total number of properties issued by the end of July 2024 decreased by 5.2 percent to 130,647, while the number of properties issued to citizens of GCC countries rose by 14.1 percent to 857.
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