Property deals in Oman reach $770 million

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oman-muscatThe value of property deal in Oman grew by 21.5 per cent to 1.945 billion rial ($770 million) for the period between January and November 2013, according to statistics released by the National Centre for Statistics and Information (NCSI).

The amount of fees collected on all legal actions was 25.3 million rial, compared with 19.4 million rial during the corresponding period ending November 2012.

The NCSI figures also showed that the largest volume of activity within the real estate sector during this period was recorded with mortgage contracts which were valued at 1.29 billion, which comprises 66.2 per cent of the total value of property trade in the Sultanate during this period. The value of mortgage contracts figure is up by 18 per cent when compared to the same period in 2012.

Sales contracts came the second with its amount reaching 647.9 million rial by the end November 2013, which represents 33.3 per cent of the total value of properties traded by the end of November 2013. This represents a growth of 28.7 per cent compared to the same period of 2012 at 503.4 million rial. The third category were barter contract which reached 8.5 million rial, representing 0.43 per cent of the total value of properties traded.

As many as 64,918 sales contracts compared to 63,257 contracts registered during the same period of 2012, representing a growth of 2.6 per cent. Also, 13,369 mortgage contracts were executed compared to 14,379 contracts registered during the same period of 2012, representing a decline of  7 per cent.

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Reading Time: 1 minute

The value of property deal in Oman grew by 21.5 per cent to 1.945 billion rial ($770 million) for the period between January and November 2013, according to statistics released by the National Centre for Statistics and Information (NCSI).

Reading Time: 1 minute

oman-muscatThe value of property deal in Oman grew by 21.5 per cent to 1.945 billion rial ($770 million) for the period between January and November 2013, according to statistics released by the National Centre for Statistics and Information (NCSI).

The amount of fees collected on all legal actions was 25.3 million rial, compared with 19.4 million rial during the corresponding period ending November 2012.

The NCSI figures also showed that the largest volume of activity within the real estate sector during this period was recorded with mortgage contracts which were valued at 1.29 billion, which comprises 66.2 per cent of the total value of property trade in the Sultanate during this period. The value of mortgage contracts figure is up by 18 per cent when compared to the same period in 2012.

Sales contracts came the second with its amount reaching 647.9 million rial by the end November 2013, which represents 33.3 per cent of the total value of properties traded by the end of November 2013. This represents a growth of 28.7 per cent compared to the same period of 2012 at 503.4 million rial. The third category were barter contract which reached 8.5 million rial, representing 0.43 per cent of the total value of properties traded.

As many as 64,918 sales contracts compared to 63,257 contracts registered during the same period of 2012, representing a growth of 2.6 per cent. Also, 13,369 mortgage contracts were executed compared to 14,379 contracts registered during the same period of 2012, representing a decline of  7 per cent.

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