Residential land prices in the general index for real estate prices in the Sultanate of Oman decrease by 1.9% in the third quarter of 2024 at a value of RO 94.5 million, compared to the same period in 2023.

According to a report issued by the National Centre for Statistics and Information (NCSI), the residential land price index decreases by 1% to reach RO 99 million. Residential apartment price index also went down by 12.9% at a value of RO 85.6 million. The price index for villas increase by 2.5% to RO 79.9 million, while the value of other homes also dropped by 6.5% to RO 120.7 million.

The general index of residential real estate prices increases 0.3% in the third quarter of 2024 compared to the same period in 2023, and residential land price index increase 0.3%. The prices of apartments decrease 5.2%, while those of villas increase 3.5%, and other homes by 2.3%.

At the governorate level, the residential land value index decreased in most of the governorates of the Sultanate of Oman in the third quarter of 2024 compared to the same quarter in 2023. The decrease in Muscat Governorate amounted to 7%, Dhofar Governorate by 4.3%, Musandam Governorate by 26% and Al Wusta Governorate by 6.1%.

The index also decreased in Al Buraymi Governorate by 17%, Ad-Dakhliyah Governorate by 3.3%, and Adh Dhahirah Governorate by 6.8%, while the index increased in Al Batinah North by 18.8%, Al Batinah South by 3.1%, Al Sharqiyah North Governorate by 5.3% and Al Sharqiyah South Governorate by 1%.