Wednesday, January 26
12:11 AM

Real estate transactions grew by 16% in Oct: NCSI

5 Dec 2021 By OUR CORRESPONDENT

Muscat – The total value of property transactions in the sultanate at the end of October 2021 increased by 16.2 per cent over the same period of 2020 to RO2,744,301,900, according to statistics issued by the National Centre for Statistics and Information (NCSI).

The government collected RO62.6mn as real estate transaction fees at the end of October 2021, which is an increase of 8.2 per cent over the same period of 2020. The traded value of sales contracts also increased by 52.9 per cent to reach RO189,300,000, and the number of sales contracts increased by 48.7 per cent to 74,032 contracts, compared to 49,787 contracts during the same period in 2020.

The traded value of mortgage contracts fell by 0.9 per cent at the end of October 2021 to reach RO1,197,400, compared to RO1,208,400 during the same period in 2020. The number of mortgage contracts at the end of October 2021 was 15,380 – an increase of 34.1 per cent over the same period in 2020, which recorded 11,466 contracts.

NCSI data also revealed a drop in traded value of exchange (barter) contracts by 9.74 per cent at the end of October 2021 to RO15.2mn, against RO60.6mn posted in the corresponding period of 2020.

The number of title deeds issued at the end of October 2021 was 210,858, an increase of 37.7 per cent over the same period of 2020, in which 15,398 title deeds were issued.

Meanwhile, the number of title deeds issued in favour of GCC citizens increased by 112.9 per cent to 594, compared to 279 issued during the same period in 2020.

© 2021 Apex Press and Publishing. All Rights Reserved. Powered by Mesdac