Oman real estate : Exchange value of real estate activity is slightly higher by June 2020

Oman Oman real estate

By the end of June 2020, the value of Oman real estate activity exchange stood at RO1.05 billion compared to RO1.24 billion by the end of June 2019, according to statistics released by the National Statistics and Information Centre.

 

The data reveals that fees collected from all legal transactions decreased to RO 29 million and 300 thousand RO by the end of June 2020 as opposed to June 2019. During the same time period, the exchanged value of 21,473 sales contracts decreased to RO354 million by 27.3 %.

 

The current value of mortgage contracts of Oman real estate decreased by 13.2% to register 651 million and 700 thousand RO, compared to 750 million and 900 thousand RO by the end of June 2019. At the end of June 2020, the number of mortgage contracts stood at 5,280 contracts, while the number of exchange contracts stood at 746, estimated at RO45,300,000.

 

As for the title deeds released by the end of June 2020 have dropped by 30 % from 109,742  to 76,818. The number of title deeds for GCC citizens stood at 180 by the end of June 2020, compared with 490 by the end of June 2019.