Residential property prices in Oman rise by 7.3%

Muscat: Data released by the National Centre for Statistics and Information (NCSI) showed a 7.3 percent increase in the residential property price index in the Sultanate of Oman in the first quarter of 2025, compared to the same quarter of 2024. This increase was driven by a 6.5 percent rise in residential land prices by the end of the first quarter of 2025.

Residential apartment prices also rose by 17 percent, followed by villas at 6.4 percent, while other home prices rose by 2.2 percent.

The general index of residential real estate prices also recorded a 5.5 percent increase in the first quarter of 2025, compared to the fourth quarter of 2024.

The residential land price index rose by 5.5 percent, while apartment prices rose by 4.3 percent and villa prices by 4.5 percent. Other housing prices also increased by 13.4 percent.

At the governorate level, Muscat Governorate recorded the highest growth rate in residential land prices in the first quarter of 2025, at 17.4 percent, compared to the same quarter of 2024.

Musandam Governorate followed with a 12.8 percent increase, followed by North Al Batinah Governorate with 7.3 percent, South Al Batinah Governorate with 6.1 percent, and Dhofar Governorate with 6 percent. Meanwhile, South Al Sharqiyah Governorate recorded a 3.4 percent increase.

In contrast, Al Buraimi Governorate recorded a 35.1 percent decline in residential land prices, followed by Al Dhahirah Governorate with a 25.3 percent decline, then Al Wusta Governorate with a 20.4 percent decline, while Al Dakhiliyah Governorate witnessed a 3.7 percent decline, and North Al Sharqiyah Governorate saw a slight decline of 0.8 percent.