Saturday 28 / December / 2024
Muscat: The value of real estate transactions in the Sultanate of Oman by the end of November 2022, reached OMR2,311.5 million compared to OMR2,375.6 million during the corresponding period in 2021, constituting a decline of 2.7 per cent, according to the latest data issued by the National Centre for Statistics and Information.
Fees collected for completed legal transactions amounted to OMR57.7 million compared to OMR78.8 million during the corresponding period in 2021, constituting a fall of 26.8 per cent.
Transactions value of sale contracts dropped by 3.1 per cent to stand at OMR1,073.6 million by the end of November 2022 compared to OMR1,107.9 million during the corresponding period in 2021. The number of sale contracts also went down by 20.6 per cent to reach 64,233 compared to 80,900 by the end of November 2021.
Moreover, the transaction value of mortgage contracts went down by 2.2 per cent to stand at OMR1,223.4 million by the end of November 2022 compared to OMR1,251.1 million by November 2021. The number of mortgage contracts increased by 6 per cent to stand at 17,804 compared to 16,795 during the corresponding period in 2021.
Swap contracts’ transactions value declined by 12.9 per cent to stand at OMR14.5 million by the end of November 2022 compared to 16.6 million by the end of November 2021. The number of swap contracts dropped by 23.2 per cent to reach 1,234 compared to 1,606 contracts by the end of November 2021.
The number of title deeds issued by the end of November 2022 reached 216,168, comprising a decrease of 6.6 per cent. Meanwhile, the number of title deeds issued for citizens of GCC countries increased by 6.2 per cent to reach 788 compared to 742 during the corresponding period in 2021.
