The total real estate activity in the Sultanate by the end of 2017 reached to RO 2,609.4 million, comprising a decrease of 60.6% over the end of 2016, according to preliminary data released by the National Centre for Statistics and Information (NCSI).
The fees collected for all legal actions stood at 78.6 million, constituting an increase of 20.1% over the previous period. The value of sales contracts rose by 11% over the end of 2016 to reach to RO 1,140.4 million.
The number of sale contracts fell by 12.7% to 59,480 contracts in the end of 2017 compared with 68,145 contracts by the end of 2016.
The value of mortgage contracts dropped by 74.1% to RO 1,447.9 million in the end of 2017 from RO 5,582.6 million by the end of 2016. The number of mortgage contracts stood at 18,619, down by 17.6% compared with the end of 2016.
The total value of swap contracts increased by 68.4% to reach to RO 21.1 million in the end of 2017 from RO 12.5 million of the year 2016. The number of swap contracts reached 1,079 by the end of 2017 compared with 774 contracts in 2016.
The number of title deeds issued by the end of last year stood at 225,468, comprising a fall by 2.1% from the end of 2016, when 230,403 title deeds were issued.
The number of title deeds issued for GCC citizens by the end of last year decreased by 36.7% to reach 1,112 compared with 1,912 title deeds by the end of 2016.