MUSCAT: The total value of property transactions in the Sultanate of Oman by the end of March 2022 declined by 14.9 per cent to reach RO 587.5 million compared to the same period of 2021, showed the latest data by the National Centre for Statistics and Information (NCSI).

Oman’s government collected RO 16.2 million as real estate transaction fees by the end of March 2022, comprising a drop by 23.7 per cent. The traded value of sale contracts also fell by 5.3 per cent to reach RO 299.1 million.

The number of sale contracts went down by 22.4 per cent to reach 19,265 contracts, compared to 24,816 contracts during the same period in 2021. The traded value of mortgage contracts declined by 22.6 per cent at the end of March 2022, to reach RO 284.5 million, compared to RO 367.6 million during the same period in 2021.

The number of mortgage contracts reached 4,717, constituting a fall by 3.2 per cent compared to the same period in 2021 when it stood at 4,873 contracts. The traded value of exchange (barter) contracts went down by 44.7 per cent to reach RO 3.9 million by the end of March 2022, compared to RO 7 million during the same period in 2021. The number of title deeds issued as at the end of March 2022 reached 60,251 constituting a drop by 19.1 per cent over the same period in 2021. The number of title deeds issued for GCC citizens went down by 1.4 per cent to reach 212 title deeds compared to 215 title deeds during the same period in 2021. – ONA