Muscat: The total value of real estate transactions in the Sultanate of Oman saw a significant rise of 29.6 percent, reaching OMR3.37 billion by the close of December 2024, compared to OMR2.60 billion during the same timeframe in 2023.
Preliminary data released by the National Centre for Statistics and Information (NCSI) revealed that the fees accrued from all legal transactions totaled OMR69 million, reflecting a 6.4 percent increase compared to the end of December 2023.
By the end of November 2024, the value of sales contracts traded reached OMR1,094.9 million, marking a 4.8 percent rise, while the total number of sales contracts stood at 13,668, an increase of 3.8 percent.
The value of mortgage contracts surged by 46.4 percent, totaling OMR2,271.9 million across 20,680 contracts, while the number of exchange contracts reached 1,325, valued at OMR13.1 million.
As of the end of December 2024, approximately 233,345 title deeds were issued, representing a slight decline of 0.9 percent, whereas the number of title deeds issued to GCC citizens rose to 1,447, an increase of 10 percent.
