Real estate activity exchange value falls in Oman June-end

The value of real estate activity exchange in Oman stood at OMR1.05 billion at the end of June 2020 from OMR1.24 billion last year, according to statistics released by the National Centre for Statistics and Information on Monday.

Fees collected from all legal transactions dropped 33.1 percent to OMR29,300,000 at the end of last June as against June 2019. The exchanged value of 21,473 sale contracts declined 27.3 percent to OMR354 million at the same time.

The value of mortgage contracts also fell 13.2 percent to OMR651,700,000. The number of mortgage contracts by the end of June 2020 stood at 5,280 contracts, while the number of exchange contracts stood at 746, valued at OMR45,300,000.

Title deeds issued by the end of June 2020 declined 30 percent to 76,818 from 109,742. Total GCC citizens’ title deeds stood at 180 by the end of June 2020, compared to 490 by the end of June 2019.