Oman's real estate trading value rises by 17% to reach OMR447mn

Muscat: The value of real estate trading in the Sultanate of Oman until the end of February 2023 stood at OMR447.3 million compared to OMR381.1 million until the end of February 2022, comprising a growth of 17.4 per cent compared to the same period in 2022, showed data of the National Centre for Statistics and Information (NCSI).

The total fees collected from all legal actions stood at OMR12.5 million, an increase of 22.8 per cent compared to the same period in 2022.

The value of sale contracts stood at OMR207.5 million, whereas the value of mortgage contracts stood at OMR238.3 million. The value of the swap contracts stood at OMR1.5 million.

According to the NCSI statistics, as many as 39,079 title deeds were issued by the end of February 2023. The number of title deeds issued for GCC citizens reached 210, compared to 148 title deeds as of the end of January 2022, comprising an increase of 41.9 per cent.