Key regions: Europe, Brazil, France, Asia, United States
The Residential Real Estate market in Oman is experiencing significant development and growth in recent years.
Customer preferences: Customers in Oman are increasingly looking for residential properties that offer modern amenities and facilities. There is a growing demand for properties that provide a comfortable and luxurious lifestyle, such as gated communities with swimming pools, gyms, and recreational areas. Additionally, customers are seeking properties that are energy-efficient and environmentally friendly, reflecting the global trend towards sustainability.
Trends in the market: One of the key trends in the residential real estate market in Oman is the increasing popularity of off-plan properties. Off-plan properties allow buyers to purchase properties before they are completed, often at a lower price. This trend has been driven by developers offering attractive payment plans and incentives to attract buyers. Additionally, off-plan properties offer buyers the opportunity to customize their homes according to their preferences. Another trend in the market is the rise of integrated communities. These communities offer a range of amenities and services within a single development, such as schools, shopping centers, and healthcare facilities. Integrated communities are becoming increasingly popular among buyers who value convenience and a sense of community.
Local special circumstances: Oman has a growing population, which is driving the demand for residential properties. The government has implemented policies to encourage the growth of the real estate sector, including the relaxation of foreign ownership restrictions. This has attracted foreign investors and expatriates to the market, further boosting demand for residential properties.
Underlying macroeconomic factors: The development of the residential real estate market in Oman is supported by favorable macroeconomic factors. The country has a stable economy with a low inflation rate and a growing GDP. Additionally, the government has invested in infrastructure projects, such as roads and airports, which has improved connectivity and accessibility. These factors contribute to a positive investment climate and attract both local and international investors to the residential real estate market in Oman.
Data coverage:
Figures are based on total and average value of residential real estate, residential estate transactions and leases.Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market, for instance, 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:
Data is modeled using current exchange rates. 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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