MUSCAT: Residential land prices led the general index of real estate prices in Oman, registering an increase of 6.2 per cent in the second quarter of this year, at a value of RO 182.4 million, according to the residential real estate price index report issued by the National Center for Statistics and Information (NCSI).
The residential land price index recorded a growth of 14.8 per cent, to a value of RO 128.6 million, while the apartment price index decreased by 15.2 per cent, to a value of RO 19.2 million. The villa price index also decreased by 6.2 per cent, to RO 27.6 million, and other homes by 12.3 percent, recording a value of RO 7 million.
On the other hand, the general index for residential real estate prices recorded an increase of 3.2 per cent compared to the first quarter of this year. Residential land prices increased by 3.9 per cent, apartment prices increased by 1.7 per cent, villas increased by 1.6 per cent, and other homes increased by 1.1 per cent.
The statistics showed that the number of transactions for selling residential real estate at the end of the second quarter of 2023 decreased by 6.6 per cent compared to the same quarter of last year. Residential lands accounted for 87.6 per cent of real estate sales transactions, compared to 5.2 per cent for apartments, 4.1 per cent for villas, and 3.1 per cent for other homes. — ONA
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