Real estate transactions fall 77 per cent in April

MUSCAT: The value of traded contracts in real estate sector stood at RO 971,400,000 in April 2017, comprising a decline by 76.8 per cent compared with the same period in the previous year, according to the National Centre for Statistics and Information (NCSI).
The collected fees stood at RO 30,300,000, comprising a rise by 20.8 per cent while the value of traded sale contracts during April 2017 stood at RO 442,900,000, comprising a rise by 11.9 per cent. The number of sale contracts during April 2017 stood at 21,675, comprising a decline 19.4 per cent compared with 26,883 contracts during the same period in the previous year.
The value of mortgage contracts fell by 85.7 per cent to register RO 542 million compared to RO 3,800.1 million during the same period last year. The number of mortgage contracts stood at 7,405 comprising a decline by 16.9 per cent.
The value of the exchanged contracts stood at more than RO 6.5 million, comprising a rise by 194.5 per cent in the same period in 2016, which worth RO 2.2 million.
The number of exchanged contracts comprised a rise by 14.4 per cent to stood at 317 as at the end of April 2017 compared with 277 contracts during the last year.
The number of title deeds registered for the first time during April 2017 stood at 83,307 comprising a fall by 4.8 per cent, compared to the same period in 2016, which stood at 87,489 title deeds. — ONA