By September 2024, real estate sales in Oman will have surpassed RO 2 billion.

By the end of September 2024, the Sultanate of Oman’s real estate market had grown to unprecedented levels, with transactions totaling more than RO 2.15 billion.

MUSCAT : This marks a 6.5 percent increase compared to RO 2.02 billion in the same period last year.
According to the latest statistics released by the National Centre for Statistics and Information (NCSI), the fees collected for legal transactions amounted to RO 49.3 million, an increase of 1.5 percent over the previous year, while the traded value of sale contracts amounted to RO 817,900000, an increase of 5.4 percent in value for 50,044 sale contracts – 2.1 percent rise in the number of contracts compared to 2023.

The mortgage sector also saw substantial growth, with the value of mortgage contracts increasing by 7.2 percent to RO 1.32 billion, covering 15,145 contracts. This upward trend highlights continued confidence in the real estate market, as more individuals and businesses turn to financing options for property purchases.

Additionally, swap contracts, which involve the exchange of property, reached 1,041 contracts valued at RO 9.8 million, demonstrating a niche but active segment of the market.

On the supply side, the total number of properties issued by the end of September 2024 stood at 169,466 properties, showing a slight decrease of 4 percent compared to the previous year. However, the number of properties issued to citizens of the Gulf Cooperation Council (GCC) countries saw a notable increase of 10.8 percent, with 1,108 properties issued.

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