The total value of property transactions in the Sultanate until the end of June 2020 fell 15.9% to reach OMR1,050.9 million from OMR1,249.3 million for the same period of 2019, as indicated by the preliminary statistics issued by NCSI.
The number of plots issued until the end of June 2020 was 76,818, which is a decline of 30% compared to the end of June 2019, when 109,742 plots were issued.
Of the total traded value until the end of June 2020, OMR354 million worth transactions were sales contracts, while OMR651.7 billion transactions were mortgage deals.
As many as 21,473 sales contracts were executed in the month of June 2020 against 29,468 contracts during the same period of 2019. However, the total number of mortgage contracts fell by 35.1% to reach 5,280 contracts against 8,140 contracts in 2019.
Sultanate's government collected OMR29.3 million as real estate transaction fees until the end of June 2020, which is a drop of 33.1% compared to the same period of 2019.
NCSI data reveal a significant fall in traded value of exchange (barter) contracts by 292.4% until June 2020 period to OMR45.3 million, as against OMR11.5 million posted in the comparable period of 2019.
The number of barter contracts witnessed a fall of 11.7% to 746, compared to 845 contracts in 2019.
The number of plots allocated to GCC citizens fell by 63.3% to reach 180 plots compared to 490 plots during the same period of 2019, the data showed.