(MENAFN- Muscat Daily) Oman's real estate sector has seen substantial growth over the last one year. This year until June the total traded value of properties was RO2.23bn a 45.9 per cent rise compared to RO1.53bn during the same period of 2014.
According to the National Centre for Statistics and Information (NCSI) legal fees from real estate transactions reached RO25.6mn (a 12.8 per cent increase over last year) and the value of sales contracts increased 4.7 per cent to reach RO649.6mn.
There was a 4.8 per cent decline in the sale contracts – 42261 till June this year compared to 44395 during the same period of 2014.
Mortgage agreements logged a 10.2 per cent increase to reach 11585 against 10514 recorded till the end of June 2014.
The value of exchange contracts logged a 143.5 per cent increase till the end of June 2015 by reaching RO11.2mn compared to RO4.6mn till June 2014.
The number of such contracts increased by 6.5 per cent to reach 703 by the end of June compared to 660 recorded during the same period last year.
NCSI figures show that 126828 title deeds were issued by the end of June – an 5.8 per cent increase over 119849 recorded till June 2014.
The number of title deeds issued to GCC nationals witnessed a 27 per cent fall to 1354 from 1854 during the same period in 2014.<
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