Oman’s real estate market is growing, with 2022 property deals going up by a huge amount.
The latest statistics from the National Centre for Statistics and Information (NCSI) show that the value of real estate deals in Oman reached OR1.22 billion ($3.2 billion) by the end of May.
It’s a big jump from the OR885.6 million ($2.3 billion) that came in during the same time in 2022.
The numbers showed that the total fees for all transactions were OR28.9 million ($75 million), which is a rise of 17.5% compared to the same time period in 2022.
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Oman homes for sale in 2023
The number of sales contracts that were traded went up by 6.4% and is now worth OR468 million ($1.2 billion).
The number of orders for sales went down by 4.1%.
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The number of mortgage contracts that were moved went up by 70.3%, to 10,110 contracts worth OR748.4 million ($1.94 billion).
At the same time, there were 620 swap contracts worth OR4.2m ($11m).
By the end of May 2023, there had been 99,893 title deeds given, which is an increase of 7.6%.
The number of title documents given to people from the GCC went up by 68.1%, to 516.