Muscat: The traded value of real estate properties within the Sultanate of Oman experienced a 6.4 percent increase, reaching OMR1,730.2 million by the end of July 2024, as compared to OMR1,626.4 million observed during the same period in the previous year, as reported by the most recent data from the National Centre for Statistics and Information (NCSI).
Preliminary statistics provided by the NCSI indicate that the total fees collected from all legal transactions decreased by 0.4 percent to OMR38.2 million by the end of July 2024.
The value of sales contracts saw a rise to OMR631.3 million by the end of July 2024, with an increase of 0.5 percent in the number of contracts signed, reaching 38,627, compared to 38,440 in the corresponding period of the previous year.
Conversely, the value of mortgage contracts experienced an 8.9 percent increase to OMR1,090.7 million by the end of July 2024.
Furthermore, the number of mortgage contracts decreased by 15.9 percent to 11,799 from 14,029 contracts observed in the same period of the previous year. Additionally, the number of properties issued by the end of July 2024 saw a 5.2 percent decrease to 130,647, while the issuance of properties to citizens of GCC countries increased by 14.1 percent to 857.
