Value of real estate deals in Oman rise 18.9% to OMR1.4bn

Muscat: The total value real estate in the Sultanate of Oman increased by 18.9 percent to OMR1.40 billion at end of June 2023 compared to OMR1.17 billion during the same period in 2022.

The data issued by the National Centre for Statistics and Information (NCSI) showed that the fees collected against all legal acts amounted to OMR33.4 million, an increase of 10.3 percent compared to end of June 2022.

The value of sales contracts stood at OMR545.7 million for 32,907 contracts, a decrease of 11.1  percent in value and 8.5  percent in the number of contracts.

The value of mortgage contracts increased by 52.6 percent to OMR852.1 million for 12,062 contracts, while the swap contracts amounted to 732 at a total value of OMR4.8 millon.

The title deeds issued at end of June 2023 amounted to 117,870, an increase of 1.3 percent, while the number of title deeds issued for Gulf Cooperation Council (GCC )citizens amounted  to 633, an increase of 79. 3 percent.