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    Oman’s Real Estate Market Thrives with Promising Growth

    Opublikowano przez Marcin Strzembosz włączony 7 stycznia, 2024
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    According to recent statistics from the National Centre for Statistics and Information (NCSI), the real estate market in Oman is experiencing a steady growth. The total value of real estate trading has increased by 5.7 percent, reaching OMR2.44 billion at the end of November 2023. This represents a significant improvement compared to the same period in 2022.

    The fees collected for all legal transactions in the real estate sector have also witnessed a growth of 4.9 percent, totaling OMR60.50 million by the end of November 2023. These figures indicate a positive trend in the market and highlight the increasing confidence among buyers and investors.

    During this period, a total of 60,424 sales contracts were secured, with a traded value of OMR972 million. Additionally, the value of mortgage contracts experienced a substantial surge of 19.5 percent, reaching OMR1.46 billion for 21,461 contracts. The number of swap contracts stood at 1,302, with a cumulative worth of OMR10.5 million.

    Furthermore, there has been a moderate increase of 0.8 percent in the number of properties issued in Oman, totaling approximately 217,835 properties by the end of November 2023. Of particular interest is the significant rise in the number of properties issued to citizens of the Gulf Cooperation Council (GCC), witnessing a growth of 57.5 percent and reaching 1,241 properties. This indicates the growing interest in the Omani real estate market among GCC citizens.

    Experts predict that the upward trajectory of Oman’s real estate market will continue as the country undertakes various initiatives to attract more local and international investors. The government’s focus on infrastructure development, improving the ease of doing business, and implementing favorable policies for foreign investors are expected to contribute to the sustained growth of the real estate sector in Oman.

    In conclusion, the real estate market in Oman is showing promising growth, with increased values in trading, fees collected, and mortgage contracts. The rising interest in the market among GCC citizens further highlights the positive trend. With ongoing efforts from the government to attract investors, the future looks bright for Oman’s real estate sector.

    The source of the article is from the blog radardovalemg.com

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