Oman property prices soar as land value rises

Property prices in Oman jumped in the first quarter of 2026, driven by a surge in residential and industrial land prices, according to official data.

The residential property price index increased nearly 18 percent year on year, driven by a 21 percent increase in residential land prices, a 9 percent rise in villa prices and a 4.4 percent increase in apartment prices, the state-run Oman News Agency reported, quoting the National Centre for Statistics and Information (NCSI).

Muscat recorded the largest year-on-year increase in residential land prices, rising 44 percent. Al Buraimi governorate in the northwest of Oman followed with a 26 percent increase. Musandam, located close to the Strait of Hormuz and Dhofar, bordering Yemen, posted gains of 18 percent and 11 percent, respectively.

The commercial property index grew 11 percent year on year, backed by a 17 percent rise in industrial land prices and an 11 percent increase in commercial land values.

Overall, the real estate price index was up 16 percent annually. However, retail shop prices declined by 2 percent during the quarter.

No details were given on the nationality of the buyers.

This month, AGBI reported that properties in some parts of Dubai were selling for up to 20 percent below their asking prices, but the office sector was defying the turmoil caused by the Iran conflict as companies expanded.

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