Oman’s Real Estate Transactions Drop 8.3% in February 2025: Market Cools After Strong 2024 Growth

Oman’s property market experienced a notable slowdown in February 2025, with total recorded transactions reaching OMR 362.3 million(approximately USD 940.7 million), down 8.3% compared to February 2024, according to the National Centre for Statistics and Information (NCSI).

Indicator	Description	Change
Total Real Estate Transaction Value	Annual drop compared to February 2024	8.3% decrease (OMR 362.3 million)
Legal Fee Revenue	Growth in revenue from transaction-related fees	5.9% increase (OMR 12.3 million)
Value of Sale Contracts	Total value of registered sales contracts in February	18.3% decrease (OMR 160.3 million)
Number of Sale Contracts	Decrease in number of contracts year-on-year	3.2% decrease (11,177 contracts)
Mortgage Transactions	Increase in registered mortgage values	1.8% increase (OMR 200.1 million)
Property Titles Issued to GCC Citizens	Growth in ownership by GCC nationals	7.1% increase (227 titles)

Key Highlights:

• Value of sale contracts fell 18.3% to OMR 160.3 million.
• Total number of contracts dropped 3.2%, reaching 11,177 contracts.
• In contrast, mortgage transactions increased 1.8%, reaching OMR 200.1 million across 3,416 contracts.
• Exchange contracts fell to 266, worth OMR 1.9 million.

Despite the overall decline, revenue from legal fees rose by 5.9%, totaling OMR 12.3 million.

The number of property titles issued also rose by 0.8%, reaching 39,704 titles, while those issued to GCC nationals increased by 7.1% to 227 titles.

Context and Causes:

This moderation follows tightened global financial conditions, shifting investor sentiment, and a gradual normalization of real estate markets across the Gulf post-pandemic.

Nonetheless, Oman’s real estate sector delivered strong results in 2024, growing 29.5% with total transactions reaching OMR 3.3 billion. During the first nine months of 2024, the sector contributed OMR 820.7 million to the nation’s GDP.

Government Support Measures:

To stimulate the market, the Omani government has introduced eased ownership rules for foreigners and tax incentives aimed at attracting foreign investments and boosting development projects across the sultanate.