Real Estate Deals Rise 32.2pc by May 2021
Muscat, 5 Jul (ONA) — The total value of property transactions in the Sultanate till the end of May 2021 increased by 32.2% to reach RO 1,161.6 million compared to the same period of 2020 as indicated by the preliminary statistics issued by the National Centre for Statistics and information (NCSI).
The collected real estate transaction fees stood at RO 33.7 million, comprising a rise by 49.4%.
The traded value of sale contracts went up by 73.4% to reach RO 491.9 million. The number of executed sales contracts saw a rise by 129.8% to reach 36,649 as at the end of May 2021 compared to 15,949 contracts in May 2020.
The traded value of mortgage contracts rose 12.8% to reach RO 660.8 million as at the end of May 2021 compared to RO 586 million in the same period of 2020. The number of mortgage contracts reached 7,679 comprising, an increase by 85.2% compared to 4,146 contracts in May 2020.
The traded value of exchange (barter) contracts dropped by 2.7% to reach RO 8.9 million compared to RO 9.2 million in the same period of 2020.
The number of title deeds issued as at the end of May 2021 stood at 108,223 constituting a rise by 85.4% compared to the same period in the previous year, when 58,362 title deeds were issued.
The number of title deeds issued for GCC citizens went up by 86.2% to reach 311 compared to 167 title deeds during the same period of 2020, the data showed.