Oman’s Real Estate Transactions Drop 8.3% in February 2025: Market Cools After Strong 2024 Growth
Oman’s property market experienced a notable slowdown in February 2025, with total recorded transactions reaching OMR 362.3 million(approximately USD 940.7 million), down 8.3% compared to February 2024, according to the National Centre for Statistics and Information (NCSI).
| Indicator | Description | Change |
|---|---|---|
| Total Real Estate Transaction Value | Annual drop compared to February 2024 | 8.3% decrease (OMR 362.3 million) |
| Legal Fee Revenue | Growth in revenue from transaction-related fees | 5.9% increase (OMR 12.3 million) |
| Value of Sale Contracts | Total value of registered sales contracts in February | 18.3% decrease (OMR 160.3 million) |
| Number of Sale Contracts | Decrease in number of contracts year-on-year | 3.2% decrease (11,177 contracts) |
| Mortgage Transactions | Increase in registered mortgage values | 1.8% increase (OMR 200.1 million) |
| Property Titles Issued to GCC Citizens | Growth in ownership by GCC nationals | 7.1% increase (227 titles) |
Key Highlights:
- Value of sale contracts fell 18.3% to OMR 160.3 million.
- Total number of contracts dropped 3.2%, reaching 11,177 contracts.
- In contrast, mortgage transactions increased 1.8%, reaching OMR 200.1 million across 3,416 contracts.
- Exchange contracts fell to 266, worth OMR 1.9 million.
Despite the overall decline, revenue from legal fees rose by 5.9%, totaling OMR 12.3 million.
The number of property titles issued also rose by 0.8%, reaching 39,704 titles, while those issued to GCC nationals increased by 7.1% to 227 titles.
Context and Causes:
This moderation follows tightened global financial conditions, shifting investor sentiment, and a gradual normalization of real estate markets across the Gulf post-pandemic.
Nonetheless, Oman’s real estate sector delivered strong results in 2024, growing 29.5% with total transactions reaching OMR 3.3 billion. During the first nine months of 2024, the sector contributed OMR 820.7 million to the nation’s GDP.
Government Support Measures:
To stimulate the market, the Omani government has introduced eased ownership rules for foreigners and tax incentives aimed at attracting foreign investments and boosting development projects across the sultanate.
Source:
This news was published on Arab News:
Oman’s Real Estate Transactions Drop 8.3% in February 2025 | Market Stabilizes Post-2024 Boom – Arab News
