Muscat: The value of real estate trading in Oman until the end of December 2022 recorded 2,706,100,000 OMR, an increase of six percent compared to the same period in 2021, which amounted to 2,552,500,000 OMR, according to the data issued by the National Center for Statistics and Information (NCSI).

The figures revealed that the total fees collected for all legal dispositions by the end of December 2022 amounted to 62,600,000 OMR, a decrease of 25.5 percent compared to the same period of 2021. The traded value of sales contracts decreased by 4.8 percent, to record 1,131,500,000 OMR by the end of December 2022 compared to 1,188,900,000 OMR at the end of December 2021. The number of sales contracts decreased by 21 percent, to record 68,616 contracts at the end of December 2022 compared to 86,856 contracts at the end of December 2021.

The statistics showed an increase in the traded value of mortgage contracts at the end of December 2022 by 15.9 percent, to reach 1,558,600,000 OMR, compared to 1,344,600,000 OMR at the end of December 2021. The number of mortgage contracts reached 19,089 contracts, an increase of 5.6 percent over the same period of 2021, which recorded 18,082 contracts.

The traded value of swap contracts decreased by 15.6 percent, to reach 16,100,000 OMR at the end of December 2022, compared to 19,000,000 OMR at the end of December 2021. The number of swap contracts also decreased by 25.5 percent to reach 1,309 contracts, compared to 1,758 contracts by the end of December 2021.

According to the statistics of the National Center for Statistics and Information, 233,178 property titles were issued by the end of December 2022, a decrease of 7 percent compared to the end of December 2021. The number of property titles issued to the citizens of GCC countries increased by the end of December 2022 by 6.5 percent to reach 884 property titles compared to 830 property titles at the end of December 2021.

Source: Times of Oman