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Value of real estate activity at 2.6 billion Rials by end of 2017

Atheer – Oman News Agency

The total real estate activity in the Sultanate by the end of 2017 was 2.6 billion Omani Rials, comprising a decrease of 60.6% from 2016 figures, according to preliminary data released by the National Centre for Statistics and Information (NCSI).

The fees collected for all legal actions stood at 78.6 million, constituting an increase of 20.1%, as the value of sales contracts rose by 11% to reach 1.1 billion Omani Rials. The number of sale contracts fell by 12.7% to 59,480 contracts.

Furthermore, the value of mortgage contracts dropped by 74.1% to 1.4 billion Omani Rials by the end of 2017, having stood at 5.5 billion Omani Rials by the end of 2016. The number of mortgage contracts stood at 18,619, down by 17.6%.

The total value of swap contracts increased by 68.4% to 21.1 million, from 12.5 million Omani Rials. The number of swap contracts reached 1,079 by the end of 2017 having been 774 in 2016.

Additionally, the number of title deeds issued by the end of last year stood at 225,468, comprising a fall of 2.1% from the end of 2016, in which 230,403 title deeds were issued. The number of title deeds issued for GCC citizens by the end of last year decreased by 36.7% to 1,112.

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