Post by: Pratik Kumar
The real estate market in Oman grew fast in 2024. By December, the total value of property deals reached OMR 3.37 billion. This is 29.6% more than OMR 2.60 billion in 2023. More people bought and sold properties, and many took loans to buy homes.
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As per data from the National Centre for Statistics and Information (NCSI), the government collected OMR 69 million in fees from real estate deals. This was 6.4% more than the amount collected in 2023.
The value of property sales reached OMR 1,094.9 million, showing a 4.8% increase. The number of sales deals also grew by 3.8%, reaching 13,668 by the end of 2024.
More people took home loans, making mortgage deals go up by 46.4%. The total value of mortgage deals was OMR 2,271.9 million, and 20,680 such deals were recorded.
Some people also exchanged properties. There were 1,325 exchange deals, worth OMR 13.1 million in total.
The government gave out 233,345 title deeds by the end of 2024. This was 0.9% less than the previous year. However, the number of title deeds given to GCC citizens rose by 10%, reaching 1,447.
The numbers show that Oman’s property market is growing. More people are buying and selling homes, and many are taking home loans. This shows that people trust the real estate market and see good opportunities in it.
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