In the first half of 2024, Oman’s total real estate transaction value was RO1.41 billion, a slight rise of 0.5% over the same period in 2023. This modest growth indicates a stable market, even in the face of regional variations.
The National Centre for Statistics and Information released data showing that the fees collected for real estate transactions were RO32.3 million, a 3.5% decrease from the RO33.4 million collected in the same period last year. The value of sale contracts traded was recorded at RO545.6 million for 32,596 contracts, indicating a 0.9% decline from the previous year.
The value of mortgage contracts increased by 0.5% to RO856.7 million for 10,028 contracts, up from RO852.1 million in the first half of 2023. For 671 contracts valued at RO7.3 million, the number of swap contracts increased dramatically by 52% from RO4.8 million in 2023.
From 117,870 in the first half of 2023 to 109,666 in the first half of 2024, there were 7% fewer properties registered.
On the other hand, the number of properties registered to residents of the Gulf Cooperation Council rose by 5.2% from 633 in 2023 to 666 in 2024.
These data point to a mixed picture of Oman’s real estate market, with some regions experiencing growth and others experiencing contraction. The continuous trade and consistent interest from GCC nationals sustain the market’s overall resilience.