Real estate market in Oman: the rebirth
The winning economy of a country is the set of numerous sectors that generate value among them, to the point of making that nation superior in terms of productivity compared to others. In particular, it often happens that it is a sector that is driving others. The protagonist of a "wave of optimism in economic and financial terms is the state of Oman.
This is the year of rebirth not only in terms of productivity, but above all as regards the number of sales contracts entered into in the real estate market. After the effect linked to the increase in the price of oil, which introduced considerable wealth in the country, very interesting opportunities have been created in parallel which, in turn, have increased the number of property buyers. Young people and adults have poured right here, in a unique state of its kind, which has seen a strong increase in employment rates and, in general, demographic rates.
The GDP in turn has risen by 10% compared to the end of 2018, thanks to the strong and continuous production of natural gas in the Khazzan field.
Although the demand is still moderate as regards the search for accommodation, it is generally possible to identify different activities that facilitate and encourage the stipulation of residential purchase contracts. The stability of property prices has undoubtedly encouraged investors who have decided to converge their resources in a highly fragmented market.
In the last 12 months all residential submarkets have maintained a reasonable level of adherence to demand, bringing the vast majority of buyers to the capital of Oman, even willing to pay astronomical sums in order to grab a property in this welcoming land.
The most sought after residential positions are those present in the most active locations from all points of view. The other cities, on the other hand, recorded declines, but only for the luxury segment. For the others, in fact, the holders of the portfolio are always and only the young Millennials, who, despite not having particular financial endowments, still manage to invest.
Rents are becoming less and less interesting, while capturing the real estate market in Oman is precisely the purchase contract for a property.
New regulatory regulations have also been introduced that can streamline and encourage the real estate market, by virtue of the purchase of real estate through the introduction of foreign capital in the country.
The current market dynamics are more than positive and probably, according to the findings of the main economic-real estate institutes, the sector will continue to grow both in terms of variety and in quantitative terms.
It is hoped that this nation can continue following this path, initially tortuous but potentially full of great opportunities both for the country itself but also for the buyers who decide to become an active part of this great process of modernization of the sector.
This is the year of rebirth not only in terms of productivity, but above all as regards the number of sales contracts entered into in the real estate market. After the effect linked to the increase in the price of oil, which introduced considerable wealth in the country, very interesting opportunities have been created in parallel which, in turn, have increased the number of property buyers. Young people and adults have poured right here, in a unique state of its kind, which has seen a strong increase in employment rates and, in general, demographic rates.
The GDP in turn has risen by 10% compared to the end of 2018, thanks to the strong and continuous production of natural gas in the Khazzan field.
Although the demand is still moderate as regards the search for accommodation, it is generally possible to identify different activities that facilitate and encourage the stipulation of residential purchase contracts. The stability of property prices has undoubtedly encouraged investors who have decided to converge their resources in a highly fragmented market.
In the last 12 months all residential submarkets have maintained a reasonable level of adherence to demand, bringing the vast majority of buyers to the capital of Oman, even willing to pay astronomical sums in order to grab a property in this welcoming land.
The most sought after residential positions are those present in the most active locations from all points of view. The other cities, on the other hand, recorded declines, but only for the luxury segment. For the others, in fact, the holders of the portfolio are always and only the young Millennials, who, despite not having particular financial endowments, still manage to invest.
Rents are becoming less and less interesting, while capturing the real estate market in Oman is precisely the purchase contract for a property.
New regulatory regulations have also been introduced that can streamline and encourage the real estate market, by virtue of the purchase of real estate through the introduction of foreign capital in the country.
The current market dynamics are more than positive and probably, according to the findings of the main economic-real estate institutes, the sector will continue to grow both in terms of variety and in quantitative terms.
It is hoped that this nation can continue following this path, initially tortuous but potentially full of great opportunities both for the country itself but also for the buyers who decide to become an active part of this great process of modernization of the sector.
