FERUARY 6, 2024

Real estate deals exceed RO 2.6 billion by end of 2023

MUSCAT: The total value of real estate transactions in the Sultanate of Oman by the end of December 2023 increased by 6 per cent to reach RO 2,607.1 million compared to the same period of 2022 when it stood at RO 2,459.3 million, according to the latest data issued by the National Centre for Statistics and Information (NCSI).

The total collected real estate transaction fees reached RO 64.9 million, constituting a rise by 4.2 per cent compared to the end of 2022. The value of sale contracts stood at RO 1,044.5 million (65,649 contracts), comprising a drop by in value and the number of contracts by 7.7 per cent and 4.3 per cent, respectively.

Statistics indicate a rise in the value of lease contracts by 18.3 per cent to stand at RO 1,551.5 million (22,774 contracts).

Meanwhile, exchange agreements stood at 1,394 (worth RO 11.2 million).

The number of ownership deeds by the end of 2023 stood at 235,390, comprising a rise by 0.9 per cent while the number of ownership deeds issued to GCC citizens reached 1,316, up by 48.9 per cent. - ONA