Oman real estate trading drops 23% YoY to $3.11bn in July 2020
The number of properties issued in the sultanate decreased by 27.6% year-on-year to 92,929 properties in July 2020
The total value of traded real estate activity in the Sultanate of Oman dropped 23% year-on-year to $3.11bn (OMR1.211bn) in July 2020, compared to $3.875bn (OMR1.492bn) during the same period in 2019.
According to preliminary statistics issued by Oman’s National Centre for Statistics and Information, the fees collected for all legal actions fell 30.4% YoY to $92.7m (OMR35.7m) in July 2020, while the traded value of sales contracts decreased 21.5% YoY to $1.15bn (OMR442.9m) in July 2020 for 26,878 sales contracts.
The traded value of mortgage contracts decreased by 21.3% YoY to $1.87bn (OMR719.8m) in July 2020, compared to $2.37bn (OMR914.1m) in July 2019.
Meanwhile, the number of mortgage contracts reached 6,706 contracts by the end of July 2020, and the number of swap contracts reached 916 contracts, worth $126.7m (OMR48.8m).
The number of properties issued decreased 27.6% YoY to 92,929 properties in July 2020, compared to 128,336 properties issued in July 2019.
The number of properties issued to GCC nationals and citizens of the Arab States of the Gulf reached 220 properties, compared to 563 properties in July 2019, according to the state-run Oman News Agency.