Muscat – Latest statistics from the National Centre for Statistics and Information (NCSI) reveal a mixed performance across different property types.

The residential land price index saw a decline of 1 percent, while the residential apartment price index dropped significantly by 12.9 percent. The price index for other houses also fell by 6.5 percent, while the villa price index rose by 2.5 percent.

When compared to the second quarter of 2024, the overall index of residential real estate prices showed a modest increase of 0.3 percent. This was primarily driven by a 0.3 percent rise in residential land prices and a notable 3.5 percent increase in villa prices. In contrast, the residential apartment price index saw a decline of 5.2 percent, while prices for other houses increased by 2.3 percent.

At the governorate level, the decrease in residential real estate values was observed across most parts of the country. Muscat, the capital governorate, experienced a 7 percent drop in prices, while Dhofar and Musandam governorates saw declines of 4.3 percent and 26 percent, respectively. Al Buraimi Governorate also experienced a significant decrease of 17 percent, followed by Ad Dakhiliyah, which saw a 3.3 percent drop. Other regions like Ad Dhahirah and Al Wusta also recorded declines of 6.8 percent and 6.1 percent, respectively.

However, certain governorates experienced price increases during the same period. North Al Batinah saw the highest rise with an 18.8 percent increase, while South Al Batinah reported a 3.1 percent rise. Additionally, South Al Sharqiyah and North Al Sharqiyah saw modest increases of 1 percent and 5.3 percent, respectively