{"id":72211,"date":"2024-12-07T14:33:30","date_gmt":"2024-12-07T11:33:30","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=72211"},"modified":"2025-11-26T00:40:31","modified_gmt":"2025-11-26T00:40:31","slug":"%d8%a7%d9%86%d8%ae%d9%81%d8%a7%d8%b6-%d9%85%d8%a4%d8%b4%d8%b1-%d8%a3%d8%b3%d8%b9%d8%a7%d8%b1-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d8%a7%d8%aa-%d9%81%d9%8a-%d8%b3%d9%84%d8%b7%d9%86%d8%a9-%d8%b9%d9%85","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/72211\/","title":{"rendered":"Oman's real estate price index declined during the third quarter 2024"},"content":{"rendered":"

experienced Real estate market<\/a><\/strong> The residential real estate market in the Sultanate of Oman saw a significant decline in prices during the third quarter of 2024, according to recent data released by the Omani Center for Statistics and Information.<\/p>\n

The report reflects notable shifts in Real estate market<\/a><\/strong>\u00a0In the Sultanate of Oman, both in terms of annual performance and quarterly changes, with notable variations among the different governorates and real estate categories.<\/p>\n

A Clear Year-Over-Year Decline<\/strong><\/span><\/h4>\n

Statistics showed that the overall residential real estate price index declined by 1.9% compared to the same period last year. This decline was driven by decreases across most real estate categories. Residential land prices fell by 1%, while apartment prices saw a sharp decline of 12.9%. Prices for other types of homes fell by 6.5%.<\/p>\n

In contrast, villas stood out as an exception in the market, with prices rising by 2.5%, indicating sustained demand for this type of property, perhaps driven by consumers\u2019 desire to invest in properties with greater value.<\/p>\n

Minor quarterly fluctuations<\/strong><\/span><\/h4>\n

On a quarterly basis, the market showed relative stability, with a slight increase of 0.3% in the general index compared to the second quarter of this year. Quarterly changes included a 0.3% increase in residential land prices and a 3.5% increase in villa prices, while apartment prices fell by 5.2%, and prices for other types of homes rose by 2.3%.<\/p>\n

Significant Variation Among Provinces<\/strong><\/span><\/h4>\n

Geographically, statistics revealed a clear disparity among the governorates in the annual performance of the residential real estate market. The Muscat Governorate, considered the Sultanate\u2019s leading real estate market, recorded a decline of 7%, while the Dhofar Governorate saw a decline of 4.3%. The Musandam Governorate, meanwhile, suffered the largest decline at 26%, reflecting a sharp drop in demand for residential real estate there.<\/p>\n

Other governorates, such as Al Buraimi, Al Dakhiliya, Al Dhahira, and Al Wusta, recorded declines ranging from 3.3% to 17%, indicating economic pressures or changes in supply-and-demand dynamics.<\/p>\n

On the other hand, some governorates recorded an increase in residential real estate prices, with North Al Batinah leading the growth at 18.8%, followed by North Al Sharqiyah at 5.3%, South Al Batinah at 3.1%, and South Al Sharqiyah at 1%.<\/p>\n

Market Trends and Future Outlook<\/strong><\/span><\/h4>\n

These data reveal clear changes in the real estate landscape in the Sultanate of Oman, where the market is influenced by various factors, including economic shifts and investor trends. While the decline in most categories and governorates may reflect pressure on the market, the growth in villa prices and in certain areas indicates continued interest in high-value properties.<\/p>\n

Amid ongoing economic shifts at both the local and global levels, investors and real estate developers in the Sultanate remain cautiously watchful of future market trends, particularly in light of the government\u2019s efforts to stimulate the real estate sector and support its stability.<\/p>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>The residential real estate market in the Sultanate of Oman saw a significant decline in prices during the third quarter of 2024, according to recent data released by the Omani Center for Statistics and Information. The report reflects notable shifts in Oman\u2019s real estate market, both in terms of annual performance and quarterly changes, with marked variations across governorates and different property categories. The statistics showed a clear year-over-year decline \u2026 Read 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