Oman's traded real estate activity rises 4.9% YoY to $7.2bn in 2019

Published: 23 February 2020 - 2:43 a.m.

The total value of traded real estate activity in Oman reached $7.2bn (OMR2.771bn) at the end of December 2019, marking a 4.9% rise from $6.86bn (OMR2.641bn) in 2018, according to the sultanate’s National Center for Statistics and Information.

The fees collected for legal actions dropped 2% year-on-year to $213.78m (OMR82.3m) in 2019, while the total 56,887 sales contracts also decreased 9.1% year-on-year to $2.36bn (OMR911.2m) in 2019.

Meanwhile, the value of mortgage contracts increased 13.2% to $4.75bn (OMR1.836bn) in 2019, compared to $4.2bn (OMR1.62bn) recorded by the end of December 2018.

Close to 211,200 properties were issued by the end of 2019, marking a 5.5% decrease from the 223,492 properties issued the previous year, according to the state-run Oman News Agency.

In addition, the properties issued to citizens of the Cooperation Council for the Arab Gulf States reached 875 in 2019, compared to the 1,396 properties allocated in 2018.

Click here to add your comment

Please add your comment below
Your email address will not be published