Key regions: Germany, Europe, Asia, United States, United Kingdom
The Residential Real Estate Transactions market in Oman has been experiencing steady growth in recent years, driven by various factors such as customer preferences, market trends, local special circumstances, and underlying macroeconomic factors.
Customer preferences: Omani customers have shown a strong preference for investing in residential real estate, considering it a safe and reliable investment option. Many individuals and families in Oman view owning a home as a long-term goal and a sign of financial stability. This preference for homeownership has led to an increase in residential real estate transactions as more people strive to fulfill their dreams of owning a property.
Trends in the market: One of the key trends in the Omani residential real estate market is the growing demand for affordable housing. With a rising population and an increasing number of young professionals entering the workforce, there is a need for affordable housing options that cater to their needs. Developers and investors have recognized this trend and are focusing on the construction of affordable housing projects to meet the demand. Another trend in the market is the shift towards sustainable and eco-friendly housing options. With growing awareness about environmental issues, customers are increasingly looking for properties that are energy-efficient, use sustainable materials, and have green spaces. Developers are incorporating these features into their projects to attract environmentally conscious buyers.
Local special circumstances: Oman's government has implemented various policies and initiatives to stimulate the residential real estate market. These include providing incentives for developers, streamlining the approval process for construction projects, and offering favorable financing options for homebuyers. These special circumstances have created a favorable environment for the growth of the residential real estate transactions market in Oman.
Underlying macroeconomic factors: The growth of the residential real estate transactions market in Oman is also influenced by underlying macroeconomic factors. The country's stable economy, favorable business environment, and strategic location have attracted foreign investors, leading to increased investment in the real estate sector. Additionally, government investments in infrastructure development, such as transportation and utilities, have further boosted the demand for residential properties. In conclusion, the Residential Real Estate Transactions market in Oman is experiencing steady growth due to customer preferences for homeownership, the demand for affordable and sustainable housing, local special circumstances, and underlying macroeconomic factors. These factors have created a favorable environment for the development of the residential real estate market in Oman, making it an attractive investment option for both domestic and foreign investors.
Data coverage:
Figures are based on total and average revenue of residential real estate transactions (sales).Modeling approach:
Market size is determined by a 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 considered at a country-specific level.
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