The total value of property transactions in the Sultanate till the end of September 2018 declined by 1.9% to reach OMR 2.04 billion from OMR 2.08 billion in the same period of 2017, as indicated by the preliminary statistics issued by Center.
The total traded value of property in the Sultanate in September 2018 was worth OMR 258 million. Sultanate's government collected OMR65.1 million as real estate transaction fees during January-September period this year, which is 8.3% higher compared to the same period of last year. Of the total traded value till the end of September 2018, OMR 713.9 million worth transactions were sales contracts, while OMR 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. However, the total number of mortgage contracts fell by 15.6% to reach 12,421 against 14,710 contracts in 2017. As for plots issued till the end of September 2018, the number stood at 167,897 which is a rise of 0.5% from the end of September 2017, when 167,045 plots were issued. The number of plots allocated to GCC citizens surged by 18.8% to reach 1,114 plots compared to 938 plots allocated during the same period last year, the data showed.
NCSI data reveal a significant fall in traded value of exchange (barter) contracts by 26.7% during the January-September 2018 period to OMR 12.7 million, as against OMR 17.4 million posted last year over the comparable period. The number of barter contracts witnessed a rise of 73.3% to a total of 1,163, compared to 671 contracts in 2017.