REAL ESTATE TRANSACTIONS IN OMAN CROSS RO3.4BN MARK

MUSCAT: Statistics issued by the National Centre for Statistics and Information (NCSI) show that the total traded value of real estate activities crossed RO3.42bn by the end of October this year, a 40.7 per cent rise compared to the value recorded during the same period in 2014.

The fees collected from all transactions touched the RO40.4mn figure, a 18.5 per cent increase. The traded value of sales contracts also increased by 2.3 per cent to record RO1.02bn.

The number of sales contracts, however, decreased by 2.8 per cent to 66,540 compared to 68,426 during the same period of 2014.

The traded value of mortgage contracts increased by 67.4 per cent to touch RO2.37bn, compared to RO1.42bn during the same period of 2014.

The traded value of barter contracts touched RO17.6mn till the end of October compared to RO9.2mn during the same period of 2014, a jump of 91.3 per cent. The number of barter contracts also recorded an increase of 17.8 per cent to reach 1,133 by the end of October compared to 962 during the same period of 2014.

Statistics showed that 200,021 title deeds were issued by the end of October compared to 185,573 during the same period last year, a 7.8 per cent rise.

The number of title deeds issued to GCC nationals came down to 1,959 compared to 2,672 recorded during the same period of 2014, a decline of 26.7 per cent.

SOURCE: MUSCAT DAILY