As of May 2024, the Sultanate of Oman’s traded property value was OMR1,237.0 million, up 1.3% from OMR1,220.6 million during the same period in 2023, according to the most recent data from the National Centre for Statistics and Information (NCSI).
NCSI’s preliminary statistics show that up until the end of May 2024, fees collected for legal transactions totaled OMR27.2 million, which represents a 5.7% drop from the same period in 2023.
Between May 2023 and May 2024, the value of sale contracts decreased by 2.3% to OMR457.2 million, while the quantity of sale contracts increased by 0.7% to 28,023, from 27,823 during the same period in 2023.
From OMR748.4 million at the end of May 2023 to OMR774.5 million at the end of May 2024, the value of mortgage contracts increased by 3.5%. In the meantime, there were 8,596 mortgage contracts, down from 10,110 contracts during the same period in 2023, a 15% decrease.
By the end of May 2024, the traded value of barter contracts increased by 24.5% to OMR5.2 million from OMR4.2 million during the same period in 2023. Compared to 620 contracts in May 2023, the number of barter contracts decreased by 6% to reach 583 contracts by the end of May 2024.
By the end of May 2024, there were 94,194 properties issued, a 5.7% decrease from the previous year. In contrast, citizens of GCC countries received 528 properties, up 2.3% from 516 at the end of May 2023.
