Real estate market in Oman on the rise: Invest with Whitewill

29 Feb 2024

We have a whole bundle of news with real estate market analysis for Oman in 2023, which speaks better than any other arguments about the fact that this direction is currently on the rise. You need to invest in Oman right now while the price range is huge. Oman is like Dubai in the mid-2000s. You got the analogy. And now to the news.

Steady growth

In 2023, the volume of real estate transactions in Oman reached $6.8 billion. This is 8% more than in 2022. The total commission amount reached $64.9 million, which again exceeds the 2022 figures by 4.2%. All this is the result of the government's investment in the real estate sector, the development of local infrastructure, and the tourism industry.

More particularly

In Oman's secondary market, a total of 65,649 real estate transactions were concluded, amounting to a total of $2.7 billion. The number of transactions decreased by 4.3%, and the volume decreased by 7.7%.

However, according to rental market statistics, we see that the average rental price increased by 18.3%. The total price of all rental agreements slightly exceeded $1.5 billion. The number of exchange agreements amounted to 1394.

Also, the number of property ownership documents increased by 0.9% to 235,900. The new property owners in Oman are mostly from the Persian Gulf countries. Their number in 2023 increased by 1316, a 48.9% increase.