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Oman News

Value of Oman’s real estate trading exceeds OMR2.7 billion

The value of real estate trading in the Sultanate of Oman amounted to OMR 2,706,100,000 until the end of December 2022, recording an increase of 6%, compared to the same period in 2021, which reached OMR 2,552,500,000

Oman News Agency

info@thearabianstories.com

Monday, February 6, 2023

MUSCAT – According to the data released by the National Center for Statistics and Information, the total fees collected for all legal dispositions by the end of December 2022 amounted to OMR 62,600,000, a decrease of 25.5 percent compared to the same period in 2021; the traded value of sales contracts decreased by 4.8 percent, reaching OMR 1,131,500,000 by the end of December 2022, compared to OMR 1,188,900,000 at the end of December 2021. The number of sales contracts also decreased by 21 percent, to reach 68,616 contracts at the end of December 2022, compared to 86,856 contracts at the end of December 2021.


An increase of 15.9 percent was recorded in the traded value of mortgage contracts at the end of December 2022, reaching OMR 1,558,600,000, compared to OMR 1,34,600,000 at the end of December 2021; the number of mortgage contracts reached 1989 contracts – an increase of 5.6 percent, compared to the same period In 2021, when it recorded 1882 contracts.The traded value of swap contracts decreased by 15.6 percent, to reach OMR 16,100,000 at the end of December 2022, compared to OMR 19 million at the end of December 2021. The number of swap contracts also decreased by 25.5 percent to reach 1,309 contracts, compared to 1,758 contracts by the end of December 2021
According to the statistics of the National Center for Statistics and Information, 233,178 properties were issued by the end of December 2022, which is a decrease of 7 percent over the same period in 2021. The number of properties issued to children of the Gulf Cooperation Council countries increased by the end of December 2022 by 6.5 percent to reach 884 properties, compared to 830 properties at the end of December 2021.

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