The demand for real estate in the Sultanate of Oman has increased, and by the end of December 2023, real estate deals will have totaled more than OMR 2.6 billion ($6.7 billion).
Citing data from the National Centre for Statistics and Information (NCSI), the state-owned Oman News Agency reported on Thursday that the value of transactions was up 6% from the OMR 2.459 billion recorded in the same period in 2022.
The value of lease contracts increased by 18.3% to OMR 1.55 billion, but the number and value of sale contracts decreased by 4.3% and 7.7%, respectively, as the rental segment led an increase in transactions.
By the end of 2023, 235,390 ownership deeds had been recorded, an increase of 0.9%. At 1,316, the number of ownership deeds awarded to GCC nationals showed a noteworthy increase of 48.9%.