Sultanate records real estate deals worth RO269mn in two weeks

Muscat - 

The total value of transactions in the real estate sector reached RO269mn in the 15 days of July and August while the traded value of property was at RO135mn.

According to the Ministry of Housing, the traded value of property from July 14 to 18 was around RO52mn, sale transactions over RO15mn and mortgage transactions at about RO36mn.

For the period from July 21 to 25, the traded value of property was over RO29mn, nearly RO11mn for sale transactions and over RO18mn for mortgage transactions. From July 28 to August 1, the traded value of property was nearly RO54mn, sale transactions at more than RO17mn and over RO37mn for mortgage transactions.

The ministry said North and South Batinah governorates recorded highest sales transactions during that period. Meanwhile, the traded value of property stood at RO1.2bn till the end of June this year, registering a decline of 12 per cent as compared to the same period in 2018.

‘Altogether 490 properties were allocated to citizens of GCC states during the period, a decrease of 39.7 per cent compared to the same period last year. The value of traded contracts stood at RO1.2bn.’

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