Real estate activity exchange value decreases in Oman

Real estate activity exchange by the end of June 2020 stood at $2.7bln

  

Muscat: The value of real estate activity exchange by the end of June 2020 stood at OMR1.05 billion, compared to OMR1.24 billion by the end of June 2019, according to statistics released by the National Centre for Statistics and Information.

The data shows that fees collected from all legal transactions dropped 33.1 per cent to OMR29,300,000 by the end of June 2020 as against June 2019. The exchanged value of 21,473 sale contracts declined by 27.3 per cent to OMR354 million at the same time.

The value of mortgage contracts also dropped by 13.2 per cent to OMR651,700,000. The number of mortgage contracts by the end of June 2020 stood at 5,280 contracts, while the number of exchange contracts stood at 746, valued at OMR45,300,000.

Title deeds issued by the end of June 2020 dropped by 30 per cent to 76,818 from 109,742. Total GCC citizens’ title deeds stood at 180 by the end of June 2020, compared to 490 by the end of June 2019.

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