Oman real estate rebounds

Energy Monday 30/April/2018 21:10 PM
By: Times News Service
Oman real estate rebounds

Muscat: Real estate market in the Sultanate continues to recover with sales showing a robust growth in the first quarter of 2018, compared to the same period of last year.
It seems that the recent firm trend in oil prices and the recovery in economic activity is aiding a firm trend in real estate market as well.
The total value of property transactions in the Sultanate during January-March of 2018 increased by 6.8 per cent to OMR776.3 million, from OMR726.8 million for the same period of last year, according to the latest monthly statistics released by the NCSI.
Of the total value in the first three months, OMR257.5 million were sales contracts while OMR514.1 million transactions were mortgage deals, added the NCSI report.