More than 60,000 deeds were issued in name
Muscat: Real estate value of almost six hundred million OMR exchanged in the first quarter of 2022, according to a report published by the Ministry of Housing and Urban Planning (MOHUP).
In addition, more than 60,000 deeds were also issued in name in this period. Of the OMR 587. 5 million of real estate traded, OMR 284. 5 million were mortgages, OMR 99. 1 million represented sales contracts and OMR 3. 9 million were executed.
The price of traded real estate decreased by 15% compared to the fourth quarter of 2021, when OMR 691. 2 million transactions were recorded. Much of the real estate activity was concentrated in Muscat, which accounted for 45% of the total transaction volume, followed by southern Batinah (15. 3%). The remaining occupations were distributed among the other governorates.
At the wilayat level, Wilayat Seeb accounted for the maximum of real estate loans with OMR 44. 4 million, while Wilayat Bousher led in terms of sales, with OMR 75. 6 million. of the average real estate contract greater than OMR 15,500 in this quarter, compared to OMR 14,300 in the last quarter. However, the average price of a larger loan agreement is OMR 60,300 to OMR 93,400.
More than 60,000 deeds of names were issued in the first 4 months of 2022. With more than 12,000 deeds of names issued, the largest number of land names were recorded in Muscat and southern Al Batinah. More than 10,000 scriptures have been issued in northern Al Batinah and more than 4,000 in Ad Dhahirah and North Al Sharqiyah.
Almost 2,800 titles were sold in Dhofar and more than 1,200 in Buraimi. Al Dakhiliyah counted more than 7,600 acts and South Al Sharqiyah more than 3,500. Nearly six hundred land titles have been issued in Musandam and only about 700 in Al Wusta. In addition, 212 homes were issued on behalf of citizens of Gulf Cooperation Council (GCC) countries.
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