As per Arabian Business, the Oman real estate sector reached a value of $6.8 billion by the end of December 2023.
As reported by Arabian Business, the Oman real estate sector achieved a valuation of $6.8 billion last year, experiencing an increase in both sales and lease transactions.
The total value of real estate transactions in the Sultanate of Oman by the end of December 2023 saw a 6% rise, reaching OR 2.607 billion ($6.8 billion) compared to the same period in 2022 when it amounted to OR 2.459 billion ($6.39 billion), according to the latest data released by the National Centre for Statistics and Information (NCSI).
Furthermore, the total collected real estate transaction fees reached OR 64.9 million, marking a 4.2% increase compared to the end of 2022.
Oman real estate
As highlighted by Arabian Business, the value of sale contracts in Oman stood at OR 1.044 billion ($2.7 billion), comprising 65,649 contracts. This represented a decrease in both value and the number of contracts by 7.7% and 4.3% respectively.
Statistics from Arabian Business indicate a notable rise in the value of lease contracts by 18.3% to OR 1.551 billion ($4.03 billion), with a total of 22,774 contracts.
Furthermore, exchange agreements amounted to 1,394, with a value of OR 11.2 million ($29.1 million).
By the end of 2023, the number of ownership deeds reached 235,390, indicating a slight increase of 0.9%. Additionally, the number of ownership deeds issued to GCC citizens saw a significant rise of 48.9%, reaching 1,316.
