The total value of real estate transactions in Oman increased 18.9% in the first half (H1) of 2023 to OMR 1.40 bln from OMR 1.17 bln a year earlier, according to data from the National Centre for Statistics and Information.

The value of sales contracts fell 11.1% to OMR 545.7 mln for 32,907 contracts, while mortgage contracts climbed 52.6% to OMR 852.1 mln for 12,062 contracts.

Title deeds increased by 1.3% to 117,870 at the end of June 2023 and deeds for Gulf Cooperation Council citizens rose 79.3% to 633.

Fees collected on legal acts increased to OMR 33.4 mln, a surge of 10.3% compared to the end of June 2022.