Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Oman is experiencing significant growth and development in recent years. Customer preferences are shifting towards modern and luxurious properties, while the market is being influenced by various trends and local special circumstances. Additionally, underlying macroeconomic factors are driving the growth of the real estate market in Oman. Customer preferences in the real estate market in Oman are leaning towards modern and luxurious properties. Buyers and investors are seeking properties that offer high-quality amenities, such as swimming pools, gyms, and landscaped gardens. There is also a growing demand for properties that are located in prime locations, close to commercial and entertainment centers. Additionally, customers are increasingly interested in sustainable and energy-efficient properties, as environmental consciousness becomes more prevalent. Several trends are shaping the real estate market in Oman. One notable trend is the rise of mixed-use developments, which combine residential, commercial, and retail spaces. These developments offer convenience and accessibility, as residents can live, work, and shop within the same area. Another trend is the increasing popularity of gated communities, which provide a sense of security and exclusivity. These communities often offer a range of amenities, including parks, playgrounds, and sports facilities. Local special circumstances also play a role in the development of the real estate market in Oman. The government has implemented various initiatives to attract foreign investment and stimulate economic growth. These initiatives include the relaxation of property ownership laws for foreigners and the introduction of tax incentives for real estate developers. Additionally, the government is investing in infrastructure projects, such as the development of new roads and airports, which further enhance the attractiveness of the real estate market. Underlying macroeconomic factors are driving the growth of the real estate market in Oman. The country's stable political environment and strong economic growth have attracted both domestic and international investors. The government's focus on diversifying the economy away from oil has also contributed to the growth of the real estate market, as it has led to increased investment in sectors such as tourism and logistics. Furthermore, low interest rates and favorable mortgage terms have made it easier for individuals to purchase properties, stimulating demand in the market. In conclusion, the Real Estate market in Oman is experiencing significant growth and development due to changing customer preferences, various market trends, local special circumstances, and underlying macroeconomic factors. The demand for modern and luxurious properties, the rise of mixed-use developments and gated communities, government initiatives to attract investment, and favorable macroeconomic conditions are all contributing to the growth of the real estate market in Oman.
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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