Muscat: The traded value of sales contracts surged by 17.3% to RO 536.3 million, even as the number of sales contracts slipped by 2.6%, totaling 27,302 compared to 28,023 contracts last year.
In contrast, mortgage activity experienced a notable decline. The value of mortgage contracts dropped by 26.1%, settling at RO 572.7 million across 9,140 contracts, down from RO 774.5 million in 2024 despite a rise in contract volume.
Swap contracts also saw a downward trend, with 538 contracts worth RO 4.6 million recorded, compared to 583 contracts worth RO 5.2 million during the same period last year.
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Interestingly, government revenues from real estate legal fees rose by 13.5%, totaling RO 30.9 million by the end of May 2025, indicating improved efficiency in fee collection and processing.
On the property registration front, the number of real estate properties issued recorded a marginal increase of 0.2%, reaching 94,414 properties. Significantly, property ownership by GCC nationals jumped by 24.4%, with 657 properties registered compared to 528 a year earlier.
