The value of real estate transactions in the Sultanate of Oman fell by 11.7% to RO 394.9 million by the end of February 2024, compared to RO 447.3 million in the same period of 2023, according to the latest data released by the National Centre for Statistics and Information (NCSI).

According to Preliminary statistics issued by NCSI, fees collected for legal transactions amounted to RO 11.6 million at the end of February 2024, an increase of 7.2% compared to the corresponding period of 2023.

The traded value of sale contracts decreased by 5.4% to RO 196.2 million at the end of February 2024, while the number of sale contracts rose by 6.6% to 11,543, compared to 10,831 in the same period of 2023.

The traded value of mortgage contracts decreased by 17.5% by the end of February 2024 to RO 196.5 million compared to RO 238.3 million during the same period of 2023.

The number of mortgage contracts also fell by 9.1% to 2,989 contracts from 3,288 contracts in the same period of 2023.

The traded contracts of barter contracts rose by 44.2% to RO 2.2 million at the end of February 2024 compared to RO 1.5 million in the same period of 2023. The number of barter contracts rose by 18.7% to reach 299 contracts in February 2024 compared to 252 contracts in February 2023.

The number of properties issued by the end of February 2024 rose by 0.8% to 39,378, and the number of properties issued to citizens of GCC countries also fell by 1% to 212 compared to 210 at the end of February 2023.