Oman's real estate deals rise 32.2%

Muscat: The total value of property transactions in the Sultanate till the end of May 2021 increased by 32.2 per cent to reach OMR1,161.6 million compared to the same period of 2020 as indicated by the preliminary statistics issued by the National Centre for Statistics and Information (NCSI).

The collected real estate transaction fees stood at OMR33.7 million, comprising a rise of 49.4 per cent.

The traded value of sale contracts went up by 73.4 per cent to reach OMR491.9 million. The number of executed sales contracts saw a rise by 129.8 per cent to reach 36,649 as at the end of May 2021 compared to 15,949 contracts in May 2020.

The traded value of mortgage contracts rose 12.8 per cent to reach OMR660.8 million at the end of May 2021 compared to OMR586 million in the same period of 2020. The number of mortgage contracts reached 7,679 comprising, an increase of 85.2 per cent compared to 4,146 contracts in May 2020.

The traded value of exchange (barter) contracts dropped by 2.7 per cent to reach OMR8.9 million compared to OMR9.2 million in the same period of 2020.

The number of title deeds issued as of the end of May 2021 stood at 108,223 constituting a rise of 85.4 per cent compared to the same period in the previous year when 58,362 title deeds were issued.

The number of title deeds issued for GCC citizens went up by 86.2 per cent to reach 311 compared to 167 title deeds during the same period of 2020, the data showed.