Real Estate Property market in Oman cools By Sunil Singh April 21, 2025, 2:51 PM Pixabay Nizwa city in Oman. There were 3,416 housing contracts across the country in February, up from 2,989 contracts in February 2024 Deals drop by 8% to $941m in February But transactions rise 2% Accommodation getting cheaper Oman’s real estate market slowed in February, as total deal value fell 8 percent year-on-year to OR362 million ($941 million), the state-run Oman News Agency reported. The figure dropped from OR395 million in February 2024, the news agency said, citing data from the National Centre for Statistics and Information. Despite the overall market cooling, transaction fees increased by 6 percent. Mortgage transactions also grew, up 2 percent to OR200 million for 3,416 contracts, from OR196.5 million for 2,989 contracts in February 2024. Oman mortgages surged last year on falling property prices New $350m city planned in southern Oman to attract tourists High demand drives gains in Abu Dhabi real estate “Accommodation throughout Oman is getting cheaper to buy or rent because construction of new properties is on the rise,” Mustafa Hussein, owner of Property Shop, a real estate office based in Muscat, told AGBI earlier this month. “The prices have been coming down in the last 15 months and buyers find bargains.” The sultanate is seeking to diversify its housing stock. In February the Ministry of Housing and Urban Planning awarded contracts worth $170 million to build homes and related infrastructure for low-income nationals in outlying regions. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
