Value of real estate deals in Oman reach OMR1.17bn

Muscat: The total value of property transactions in the Sultanate of Oman at the end of June 2022 declined by 7.3 per cent to reach OMR1.17 billion compared to the same period of 2021 when it stood at OMR1.27 billion, according to the latest data by the National Centre for Statistics and Information (NCSI).

The total collected real estate transaction fees reached OMR30.4 million compared to OMR50.9 million during the same period in 2021, comprising a drop by 40.4 per cent.

The number of sale contracts by the end of June 2022 fell by 18.2 per cent, while the traded value of sale contracts increased by 2 per cent compared to the same period in 2021. Issued ownership deeds reached 116,234 compared to 129,149 during the same period in 2021, comprising a decline by 9.9 per cent. The number of ownership deeds issued for GCC citizens by the end of June 2022 reached 353.

The number of sale contracts reached 35,978 with a total value of OMR613.7 million. Real estate exchange contracts reached 677 at a value of OMR7.4 million.

The number of mortgage contracts rose by 3.1 per cent to reach 9,527 at a value of OMR558.2 million compared to the same period in 2021 when the number of mortgage contracts reached 9,242 at a value of OMR659.8 million.