Real estate trading in Oman surges ahead to OMR3.4b

 

property

Total traded value of real estate activity in the Sultanate reached OMR3,420.1 million by the end of October, reflecting a 40.7 per cent rise, compared with the same period in 2014, data from the National Centre for Statistics and Information (NCSI) revealed.

The fees collected from all the legal transactions touched OMR40.400 million, showing an 18.5 per cent increase. The traded value of selling contracts also rose by 2.3 per cent to a record OMR1,022.6 million.

The number of selling contracts fell by 2.8 per cent to a record 66,540 contracts, compared with 68,426 contracts during the same period of 2014. The traded value of mortgage contracts jumped by 67.4 per cent to a record OMR2,379.9 million, compared with OMR1,421.8 million recorded during the same period of 2014.

The traded value of exchange contracts was recorded at OMR17.6 million till the end of last October, with a significant hike of 91.3 per cent, compared with the value recorded during the same period of 2014, which was pegged at OMR9.2 million.

The number of exchange contracts also recorded an increase of 17.8 per cent to touch 1,133 contracts by the end of October, compared with 962 contracts recorded during the same period of 2014.

Data showed that 200.021 title deeds were issued by the end of October, reflecting a 7.8 per cent increase, compared with the data recorded during the same period of 2014, which was 185.573 title deeds.

The number of title deeds issued for the Gulf Cooperation Council (GCC) countries’ nationals witnessed a 26.7 per cent fall by the end of last October to reach 1,959 title deeds, compared with 2,672 title deeds recorded during the same period of 2014.


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