Saturday, 7 Dec 2019 | 10 Rabi Al Thani 1441
Traded value of property down 12% in six months: Ministry

Traded value of property down 12% in six months: Ministry

According to the Ministry of Housing, 490 properties have been issued to citizens of GCC states in the course of the period, a lower of 39.7 per cent compared to the exact same period final year.

Abdullah bin Salim al Mukhaini, secretary of the Real Estate Registry, at the Ministry of Housing, stated that the value of traded contracts stood at RO1,250,671mn.

Mukhaini stated that the quantity of sale contracts registered in the course of the period reached 203,603. Of these maximum have been registered in North Batinah (41,782), followed by Muscat (36,746), South Batinah (31,451), Dakhliyah (28,157), North Sharqiyah (17,272), South Sharqiyah (13,477), Dhahirah (13,397), Dhofar (eight,687), Buraimi (six,966), Musandam (three,132) and Al Wusta (two,533).

The new plots registered for the very first time in the course of 2019 stood at 32,176 compared to 33,954 plots final year, a decline of 5 per cent. He added that the quantity of new plots registered for the very first time for GCC citizens stood at 494 as compared to 815 title deeds final year, a drop of 39 per cent.

The quantity of sale contracts this year exceeded 29,439 worth a lot more than RO486,908,000 compared to 30,042 sale contracts worth RO486,108,000 a fall of two per cent.

The collected costs from such transactions stood at a lot more than RO21,424,000 compared to RO20,883,000 in 2018, a 3 per cent improve.

Mortgage contracts executed in the course of 2019 stood at eight,141 worth a lot more than RO751.73mn whilst the collected costs stood at a lot more than RO5.69mn compared to eight,794 contracts worth a lot more than RO919.90mn in 2018.

Information Source: Muscat Daily

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