The residential real estate market in Oman size is anticipated to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to increasing demand for housing real estate space Moreover, rapid urbanization owing to the migration in search of better amenities is driving the market growth.
Residential real estate is an area developed for people to live in it. Some people purchase real estate in intention of making money, by selling it at a profit, leasing it to others, or charging people for the rent. Most people in the country use residential real estate property to live on it.
The real estate market involves buying and selling of condominiums, villas, and houses for personal or business use. Residential real estate business has been growing exponentially owing to the presence of established players entering the market. Government reforms and lower rentals and mortgage rates in the developing countries are expected to boost the market during the forecast period.
Residential real estate consists of housing for individuals, families, and groups of people. This is the most common type of estate and also the asset class that most of the people are familiar with, across the globe. Within the residential space, there are single-family homes, apartments, condominiums, townhouses, and other types of living arrangements.
The report on the residential real estate market in Oman includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Residential Real Estate Market - Oman Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2020 |
Historic Data |
2018–2019 |
Forecast Period |
2021–2028 |
Segmentation |
Types (Condominiums, Villas, and Others) |
Geographic Zone |
Oman |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered in the Report |
Al Mouj Muscat, Majan Development Company, Wujha Real Estate, and Al-Taher Group. |
On the basis of types, the market is segmented into condominiums, villas and others. The villas segment is expected to hold a key market share during forecast period. Rising number of tourists is influencing the development of villas in the country. Moreover, increasing preference of Oman-based citizens to live in villas is driving the growth of the market segment.
The others segment is expected to exhibit a high CAGR during the forecast period. Increasing inflation rate and rising cost of villas are encouraging citizens to buy apartments in affordable housing projects. However, the decline in the permit for the establishment of residential buildings can impede the segment growth.
The Oman residential real estate market has been segmented on the basis of
Key players competing in the Oman residential real estate market includes Al Mouj Muscat, Majan Development Company, Wujha Real Estate, and Al-Taher Group.
Major industry players are partnering with government entities to expand their market share. Moreover, they’re focusing on the development of affordable housing projects to leverage their market position.
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