Muscat: The aggregate value of real estate transactions within the Sultanate of Oman increased by 0.5% to reach OMR1,409.6 million as of the end of June 2024, in contrast to the same period in 2023, as per the most recent figures published by the National Centre for Statistics and Information (NCSI).
Preliminary statistics provided by the NCSI indicate that the fees collected from legal transactions fell by 3.5% to OMR32.3 million by the end of June 2024, marking a decrease from the corresponding period in 2023.
The aggregate value of sale contracts, as of the end of June 2024, stood at OMR545.6 million, with a notable decrease of 0.9% in the number of sale contracts, from 32,596 to 32,907, compared to the same period in 2023.
Conversely, the value of mortgage contracts experienced a slight increase of 0.5% to OMR856.7 million by the end of June 2024, compared to OMR852.1 million during the preceding year. Simultaneously, there was a 16.9% decline in the number of mortgage contracts, dropping to 10,028 from 12,062 in the same period.
The value of contracts involving barter transactions saw a significant increase of 52% to OMR7.3 million by the end of June 2024, surpassing the value of contracts in the previous year by OMR4.8 million. However, there was a notable decrease of 8.3% in the number of barter contracts, reaching 671 by the end of June 2024, compared to 732 in June 2023.
Furthermore, the number of title deeds issued by the end of June 2024 experienced a decline of 7% to 109,666, while the issuance of title deeds for GCC citizens saw a 5.2% increase, reaching 666 by the end of June 2024, an increase from 633 in June 2023.
