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- OLX Property showcases the Top foreign nationalities using the platform to browse property in the Sultanate from January to October 2017
- On a monthly average, 8% of the foreign visits to OLX Property are recorded from UAE, followed by 7% coming from India and 4% from Lebanon, for the same period as above
- The most searched areas by overseas OLX Property users were Al Mawaleh, Al Amerat, Muscat, Qurum, Al Khuwair from January to October 2017
- In line with the Sultanate Vision 2020, OLX Property is facilitating the flow of foreign investments to Oman
Muscat:— OLX Property, the sultanate’s biggest online property platform, reveals insights on foreign interest in the Sultanate’s real estate market. The report sheds light on the most active international users on the platform, as well as the most popular areas in Oman amongst foreign property seekers from January to October 2017. These insights were revealed in the second edition of The Exclusive Property Club by OLX Oman event, hosting over 160 attendees of leading real estate agents, developers, and agencies, and announcing the recent partnership with Oman Real Estate Association with the attendance of H.E. Mohammed Al-Busaidi, the chairman and the board member Mr. Saleh Nasser Al Riyami, at Crowne Plaza, Muscat on 11th of December 2017.
In the period between January and October 2017, around 8% of the foreign visits were recorded from users based in UAE, followed by 7% from India, 4% from Lebanon and 3% from Pakistan. Users based in KSA and Qatar also showed interest in the Sultanate property market recording the same percentage of the visits which is 2% respectively.
“We have always had a large number of international users that utilize our platform to find out what is currently available in the market. With a wide portfolio and selection catering to property seekers from all social statuses & incomes, OLX Property in Oman helps investors get a transparent view to support their purchasing decisions”, commented Amr El Gabry, General Manager at OLX Oman.
As part of the Sultanate vision 2020 to diversify its economic base and reduce its dependence on oil revenues and focus on a development plan of diversification, tourism, industrialization and privatization, the government has decided to open the real estate market to foreigners but only in Integrated Tourism Complex (ITC) developments, licensed by the government agencies, which is subject to the approval of the Ministry of Housing. The government is a 50 percent partner of all profit generated and this will significantly contribute to Oman’s GDP. *
It’s worth mentioning that Oman has emerged as the third most affordable place to buy a home in the world, according to a new report released by Assured Removalists, a Sydney-based moving company. The results are based on combined data based on average annual salary, income tax and house prices to produce a ratio that reveals how affordable houses all around the world are. **
Oman plans to invest in developing over 5000 homes to be available for expats to buy across the Sultanate under an ambitious OMR 4 billion tourism drive under five Integrated Tourism Complex (ITC) projects.
The most searched areas by overseas OLX Oman users from January to October 2017 were Al Mawaleh, Al Amerat, Muscat, Qurum, Al Khuwair. While the most searched property types were Apartment for Sale, Flat for Sale, and Land for Sale.
With over 49K property listings placed per month, OLX Property provides local and international property seekers with a transparent platform to search their perfect property in the Sultanate. OLX Property receives an average of 6 million visits each month.
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Notes to Editor - Reference:
* https://www.retalkmena.com/2017/07/10/how-buy-property-oman/1499671793
** https://www.albawaba.com/business/oman-third-most-affordable-place-buy-house-world-report-1007874
About OLX:
OLX Group is the world's leading online classifieds platform present in more than 40 countries across six continents. We connect local people to buy and sell used goods, services, cars and properties. We make it fast and easy to buy or sell almost anything through your mobile phone or on the web.
Through brands including OLX, Avito, dubizzle and letgo, OLX Group is the home of online classifieds in high-growth markets. We are the leading destination for buying and selling used goods and services in 35 countries, and the #1 mobile app in our category in more than 22 markets. Globally we estimate that around 11 million items are exchanged through our platforms every single month, giving products a second life and reducing their ecological footprint.
OLX Arabia is actively expanding in the MENA region in Bahrain, Egypt, Kuwait, Lebanon, Oman, Qatar and Saudi Arabia.
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