Sultanate Records 0.5 Percent Rise in Properties Issued by End of September 2018

Muscat, The total value of property transactions

in the Sultanate till the end of September 2018 declined by 1.9% to

reach RO 2.04 billion from RO 2.08 billion in the same period of 2017

as indicated by the preliminary statistics issued by National Centre for

Statistics and information (NCSI).

The total traded value of property in the Sultanate in September

2018 worth RO 258 million.

The Sultanate’s Government collected RO 65.1 million as real

estate transaction fees during January-September period in 2018,

which is 8.3% higher compared to the same period of last year.

Of the total traded value till the end of September 2018, RO

713.9 million worth transactions were sale contracts while RO 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 land 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.

The NCSI data reveal a significant fall in traded value of

exchange (barter) contracts by 26.7% during the January-September

2018 period to RO 12.7 million, as against RO 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.

Source: Oman News Agency