Oman real estate market shows positive signs

According to the reports, the market is still affected by international uncertainty and market volatility although there have been some positive signs over the past year.

However, growth prospects appear good in the long term and the company's expectations are for the market to rebound slowly but surely over the coming years.

Residential leasing sector – pricing analysis:

* New tenant housing budgets have seen a decrease of 25% to 30% from previous years;

* Villa rental figures have softened since Q4 2010 to an average of 1100 OR per month for a 4/5 bedroom villa in central/western Muscat;

* Outlying areas such as Bowsher and Mawaleh have increased in popularity driven by lower prices and improved road access to central areas;

* Integrated Tourism Complex (ICT) projects such as The Wave and Muscat Hills remain in demand due to the quality of housing and modern design.

Source: PropertyTalk