Muscat – The value of real estate transactions in the sultanate increased 24.3 per cent to RO730.1mn in March, compared to the same period in 2022, according to the latest data released by the National Centre for Statistics and Information (NCSI).

Fees collected for legal transactions amounted to RO18.5mn at the end of March – an increase of 14 per cent compared to the corresponding period of 2022.

The value of sale contracts decreased 1.5 per cent to RO294.6mn and the number of sale contracts also decreased 10.8 per cent to 17,191, compared to 19,265 in the same period of 2022.

The value of mortgage contracts increased 52.3 per cent in March to RO433.3mn compared to RO284.5mn during the same period of 2022. The number of mortgage contracts increased 23.2 per cent to 5,813 from 4,717 in the same period of 2022.

The value of swap contracts decreased 45.1 per cent to RO2.1mn at the end of March compared to RO3.9mn in the same period of 2022.   

The number of title deeds issued in March increased 1.9 per cent to 61,371, while the number of title deeds issued to citizens of GCC countries increased 54.2 per cent to 327 compared to 212 in March 2022.