MUSCAT: Residential land prices led the general index of residential real estate prices in the Sultanate of Oman, recording a 1 per cent increase in the Q4 2023, with a value of RO 163.3 million, according to statistics issued by the National Center for Statistics and Information (NCSI).
The residential land price index recorded a growth of 5.5 per cent, amounting to RO 112.3 million, while the residential apartment price index decreased by 10.2 per cent, recording a value of RO 18.2 million. The price index for villas also decreased by 6.2 per cent, amounting to RO 25.2 million, and other houses by 7.6 per cent, amounting to RO 7.6 million.
The general residential real estate price index recorded an increase of 0.7 per cent compared to the Q3 2023, where the residential land price index recorded an increase of 0.2 per cent. The prices of residential apartments also increased by 1.9 per cent, villas by 0.7 per cent, and other homes by 6.1 per cent.
On the other hand, the number of residential real estate sales transactions increased by 3.9 per cent in Q4 2023, compared to a decrease of 26 per cent in Q4 2022. — ONA
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