Muscat: The National Centre for Statistics and Information (NCSI) recently issued data showing that, from OMR948 million in the same period of 2023 to OMR760.2 million at the end of April 2024, the value of real estate transactions in the Sultanate of Oman decreased by 19.8%.

Read this also: Dubai’s Elevate fintech raises $5 million to capitalize on the surge in freelancing

NCSI preliminary statistics show that until the end of April 2024, fees received for legal transactions were OMR20.5 million, an 8% decrease from the same time in 2023.
Up till the end of April 2024, the value of sale contracts increased by 2.5 percent to OMR359.4 million. Compared to 21,245 in the same time of 2023, there were 21,385, an increase of 0.7% in the number of sale contracts.

Read this also: A significant bridge on the Garn Al Sabkha-Sheikh Mohammed bin Zayed Road is opened by RTA.

From OMR594.6 million at the end of April 2023 to OMR397.2 million at the end of April 2024, the value of mortgage contracts decreased by 33.2%. Additionally, there were 6,482 mortgage contracts during the same period, down from 7,586 contracts, a decrease of 14.6%.

Compared to OMR2.7 million during the same period in 2023, the traded value of barter contracts increased by 33% to OMR3.6 million at the end of April 2024. Compared to 458 contracts in April 2023, there were 465 barter contracts by the end of April 2024, an increase of 1.5%.

Read this also: Gardenia Plaza Mall in New Cairo, the latest project of Mekky Developments, is unveiled.

At the close of April 2024, 72,181 title deeds had been issued, a 5.5% decrease. In addition, 410 title deeds were issued to GCC nationals as opposed to 428 title deeds by the end of April 2023, a 4.2% decrease.