MUSCAT: Oman’s real estate market recorded a significant 29.6% increase in total transaction value, reaching RO 3.379 billion by the end of December 2024, up from RO 2.607 billion in 2023, according to preliminary data from the National Centre for Statistics and Information (NCSI).
Government-collected transaction fees rose by 6.4% to RO 69 million, reflecting sustained market activity. Sales contracts accounted for RO 1.094 billion, marking a 4.8% rise, with 13,668 contracts recorded — up 3.8% from the previous year.
Mortgage transactions saw the most substantial growth, surging 46.4% to RO 2.271 billion across 20,680 contracts. Meanwhile, exchange contracts totalled 1,325 transactions valued at RO 13.1 million.
By the end of 2024, the number of issued property deeds stood at 233,345, showing a slight decline of 0.9%. However, property transactions by Gulf Cooperation Council (GCC) nationals grew by 10%, with 1,447 properties issued to GCC citizens.
The strong growth in mortgage transactions and overall real estate trading underscores Oman’s resilient property market, driven by increased investor confidence and strategic government policies. — ONA
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