Real estate deals exceed RO 2.6 billion by end of 2023

MUSCAT: The overall worth of actual property transactions within the Sultanate of Oman by the tip of December 2023 elevated by 6 per cent to succeed in RO 2,607.1 million in comparison with the identical interval of 2022 when it stood at RO 2,459.3 million, based on the newest information issued by the Nationwide Centre for Statistics and Data (NCSI).

The overall collected actual property transaction charges reached RO 64.9 million, constituting an increase by 4.2 per cent in comparison with the tip of 2022. The worth of sale contracts stood at RO 1,044.5 million (65,649 contracts), comprising a drop by in worth and the variety of contracts by 7.7 per cent and 4.3 per cent, respectively.

Statistics point out an increase within the worth of lease contracts by 18.3 per cent to face at RO 1,551.5 million (22,774 contracts).

In the meantime, trade agreements stood at 1,394 (value RO 11.2 million).

The variety of possession deeds by the tip of 2023 stood at 235,390, comprising an increase by 0.9 per cent whereas the variety of possession deeds issued to GCC residents reached 1,316, up by 48.9 per cent. – ONA