Value of Oman property deals tops $5.7 billion

The value of the real estate transactions registered in the first six months of the year in Oman reached RO2.23 billion ($5.7 billion), reflecting a 45.9 percent rise compared with figures from the first half of 2014, a report said.

The collected fees of all the legal transactions reached RO25 million ($64.9 million) and RO600,000 ($1.56 million) with an increase of 12.8 percent, added the Oman Observer report, citing figures released by the National Centre for Statistics and Information.

The traded value of the sales contracts increased 4.7 percent to surpass RO649 million ($1.69 billion).

Selling contracts witnessed a 4.8 percent decline to record 42.261 contracts compared with 44.395 contracts during the same period last year, the report said.

The traded value of the mortgage contracts logged a 10.2 percent increase also to reach 11.585 contracts; compared with 10.514 contracts recorded in the first half of 2014.

The value of exchange contracts was up 143.5 percent in H1 2015, reaching RO11.2 million ($29.1 million).

The number of exchange contracts also recorded an increase of 6.5 percent to reach 703 contracts by the end of last June; compared with 660 contracts recorded during the same period of 2014.

The statistics showed also that 126.828 title deeds were issued by the end of last June with a 5.8 percent increase; compared with the figures recorded during the same period of 2014; which reached 119.849 title deeds.

The number of title deeds issued for GCC  nationals witnessed a 27 percent decrease by the end of last June to reach 1,354; compared with 1,854 title deeds recorded during H1 2014.