(MENAFN- Muscat Daily) The total value of real estate sales contracts in Oman at the end of August stood at RO765mn compared to RO450mn during the same period in 2013 registering an increase of 69.7 per cent.
The volume of sales contracts rose 18.3 per cent to 55521 from 46921 a year earlier.
According to the 'Real Estate Activity' report issued recently by the National Centre for Statistics and Information (NCSI) the traded value of property in the sultanate witnessed a significant growth of 55.6 per cent at the end of August 2014 coming in at RO1.91bn compared to RO1.23bn a year earlier. During the same period the fees collected from all property transactions rose 65.9 per cent to RO28.2mn from RO17mn.
Meanwhile the traded value of mortgage contracts totalled RO1.14bn at the end of August this year compared to RO775mn during the same period in 2013 an increase of 47.8 per cent. The volume of mortgage contracts registered during the same period totalled 13249 compared to 9718 during the same period in 2013 a 36.3 per cent increase.
The traded value of barter contracts increased by 5.8 per cent to touch RO7.3mn while the number of registered barter contracts declined 15.7 per cent to 818 from 970 a year earlier.
The NCSI report also reveals that property title deeds totalled 150456 at the end of August 2014 compared to 137309 during the same period in 2013 an increase of 9.6 per cent. Property title deeds issued to GCC citizens totalled 2233 at the end of August 2014 increasing 9.1 per cent from 2046 issued during the same period in 2013.
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