"Stable" Oman attracting more investors
 

"Stable" Oman attracting more investors

Wednesday, April 18, 2012. Ivan Radford @themovechannel

Oman's "stable residential sector" is attracting an increasing number of investors, Cluttons has declared. The agency's latest Oman Residential Market Report shows that Oman's growing economy and high levels of housing stock are making the country more desirable for overseas investment in the first quarter of 2012.

Oman's "stable residential sector" is attracting an increasing number of investors, Cluttons has declared.

The agency's latest Oman Residential Market Report shows that Oman's growing economy and high levels of housing stock are making the country more desirable for overseas investment in the first quarter of 2012.

Expats are still dominating the residential market, Cluttons adds, highlighting the "steady demand [for apartments] in established areas", particularly those near the coast. 75 per cent of demand is for two- and three-bedroom flats, reveals the market review, while softening rental values are keeping demand high as stock levels increase.

And overseas interest should get higher as a result of the country's rising profile as a tourist destination: "Tourism in Oman should receive a significant boost from the Sultanate being named one of National Geographic's top 20 destinations," according to OPP.

"Furthermore, the capital, Muscat, has been chosen as the Capital for Arab Tourism for 2012 whilst also receiving an international accolade by the Lonely Planet as the second best city in the world to visit. In addition, a recent Government decision has also reduced the cost of a short-term tourist visa by 75% from RO 20 to RO 5, further promoting and supporting Oman's commitment to boost the Sultanate's tourism sector into long-term growth."


Author - Dan Johnson

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