Value of real estate trading in Oman reaches OMR1.62bn

Muscat: The total value of real estate trading in the Sultanate of Oman at the end of July 2023 rose by 16.8 percent to reach OMR1.62 billion compared to OMR1.39 billion during the same period of 2022.

Preliminary statistics issued by the National Centre for Statistics and Information (NCSI) indicated that the fees collected for all legal transactions amounted to OMR38.3 million, an increase of 10.9 percent at the end of July 2023 compared to the end of July 2022.

The traded value of sales contracts amounted to OMR619 million for 38,440 contracts.

The traded value of mortgage contracts increased by 44.1 percent to reach OMR1.17 billion for 14,029 contracts while the number of swap contracts reached 840 worth OMR5.9 million.

The number of properties issued by the end of last July reached about 137,850 properties, an increase of 4.9 percent, while the number of properties issued to citizens of the Gulf Cooperation Council (GCC) reached 751 properties, an increase of 91.6 percent.