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EDITOR IN CHIEF- ABDULLAH BIN SALIM AL SHUEILI

Realty transaction fees swell by 8.3 per cent

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Muscat: The total value of property transactions in the Sultanate till the end of September 2018 declined by 1.9 per cent to reach RO 2.04 billion from RO 2.08 billion in the same period of 2017 according National Centre for Statistics and information (NCSI). The total traded value of property in the Sultanate in September 2018 worth RO 258 million. The government collected RO 65.1 million as real estate transaction fees during January-September period in 2018, which is 8.3 per cent higher compared to the same period of last year. Of the total traded value till the end of September 2018, RO 713.9 million worth transactions were sale contracts while RO 1.31 billion transactions were mortgage deals.


As many as 44,444 sales contracts were executed in the nine-month period of 2018 against 44,945 contracts during the same period of 2017. owever, the total number of mortgage contracts fell by 15.6 per cent to reach 12,421 against 14,710 contracts in 2017. The number of plots at the end of September stood at 167,897 which is a rise of 0.5 per cent compared to September 2017, when 167,045 plots were issued. The number of plots allocated to GCC citizens surged by 18.8 per cent to reach 1,114 plots compared to 938 plots last year. The data reveals a significant fall in traded value of exchange (barter) contracts by 26.7 per cent during the January-September 2018 period to RO 12.7 million, as against RO 17.4 million posted last year. — ONA


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