Oman’s real estate market surges by 29.6% to OMR3.3bn

Muscat: The total value of real estate trading in the Sultanate of Oman recorded an increase of 29.6 percent, reaching OMR3.37 billion by the end of December 2024, compared to OMR2.60 billion during the same period in 2023.

Preliminary statistics issued by the National Centre for Statistics and Information (NCSI) indicated that the fees collected for all legal transactions amounted to OMR69 million, an increase of 6.4 percent compared to the end of December 2023.

The traded value of sales contracts amounted to OMR1,094.9 million by the end of November 2024, an increase of 4.8 percent, while the total sales contracts reached 13,668, an increase of 3.8 percent.

The traded value of mortgage contracts increased by 46.4 percent, recording OMR2,271.9 million for 20,680 contracts, while the number of exchange contracts reached 1,325 with a value of OMR13.1 million.

The number of title deeds issued by the end of December 2024 amounted to about 233,345, a decrease of 0.9 percent, while the number of title deeds issued for the GCC citizens amounted to 1,447, an increase of 10 percent.