Muscat: The total value of real estate transactions in the Sultanate of Oman saw a significant rise of 28.1 percent, reaching OMR 3,130.8 million by the end of November 2024, up from OMR 2,444.6 million during the same timeframe in 2023, as reported by the National Centre for Statistics and Information (NCSI).
Preliminary data from NCSI indicates that the fees generated from all legal transactions amounted to OMR 62.1 million by the end of November 2024, reflecting a 2.6 percent increase compared to the previous year.
The value of sale contracts reached OMR 1,001.7 million by the end of November 2024, with the number of sale contracts rising by 1.9 percent to 61,552, compared to 60,424 in the same period of 2023.
In terms of mortgage contracts, the traded value surged by 44.8 percent to OMR 2,116.8 million by the end of November 2024, compared to OMR 1,462.2 million in the same period of 2023. However, the number of mortgage contracts fell by 12.2 percent, totaling 18,846 contracts, down from 21,461 in the previous year.
The value of barter contracts also increased by 18.1 percent, reaching OMR 12.4 million by the end of November 2024, compared to OMR 10.5 million in the same period of 2023. Conversely, the number of barter contracts decreased by 6.1 percent, totaling 1,223 contracts compared to 1,302 in November 2023.
Additionally, the issuance of title deeds declined by 3.4 percent, totaling 210,483 by the end of November 2024. In contrast, the number of title deeds issued to citizens of GCC countries rose by 6.8 percent, reaching 1,325 compared to 1,241 in the same period of 2023.
