Tuesday 25 / March / 2025
Muscat: Residential land prices led the general index of residential real estate prices in the Sultanate of Oman registering an increase of 6.2 percent in the second quarter of this year, amounting to OMR 182.4 million, according to the Residential Real Estate Price Index report issued by the National Centre for Statistics and Information (NCSI).
The residential land price index recorded a growth of 14.8 percent, to a value of OMR 128.6 million, while the apartment price index decreased by 15.2 percent, to a value of OMR 19.2 million. The villa price index also decreased by 6.2 percent, to OMR 27.6 million, as well as other homes by 12.3 percent, recording a value of OMR 7 million. On the other hand, the general index for residential real estate prices recorded an increase of 3.2 percent compared to the first quarter of this year.
Residential land prices increased by 3.9 percent, apartments prices increased by 1.7 percent, villas increased by 1.6 percent, and other homes increased by 1.1 percent.
The statistics showed that the number of transactions for selling residential real estate at the end of the second quarter of 2023 decreased by 6.6 percent compared to the same quarter of last year, and residential lands accounted for 87.6 percent of real estate sales transactions, compared to 5.2 percent for apartments, 4.1 percent for villas, and 3.1 percent for villas.
