Property for sale in Oman

Is the capital and largest city of the Sultanate of Oman. It is also the seat of government and largest city in the Governorate of Muscat. As of 2008, the population of the Muscat metropolitan area was 1,090,797. Get more information on property for sale in Muscat.

Is an Arab country in southwest Asia on the southeast coast of the Arabian Peninsula. It borders the United Arab Emirates on the northwest, Saudi Arabia on the west and Yemen on the southwest.

Oman is in the midst of an enormous property boom. House prices have surged in Muscat, the capital, and the coastal cities of Salalah, Sohar and Sur.

The rise in the importance of Oman as a centre for business and tourism has led to the increased development of both commercial and residential property.

With the Royal Decree of February 2006 allowing freehold ownership of properties for all nationalities in tourism designated areas, never has the opportunity for investment in Oman been better.

With the launching of The Wave and the Blue City, the two largest Integrated Tourism Complexes in Oman, property prices in the whole sultanate have gone up rapidly.

The price of land has also been rising steadily. Real estate analysts claim that land prices in some areas in the sultanate have gone up tenfold in the last three years.

Foreign investments and healthy non-oil sectors added to the boom in the real estate market. On the supply side, soaring construction costs and land prices pushed property prices further. Foreign property owners also automatically acquire residency rights for themselves and their immediate families, by virtue of the property acquisition.

Oman's growing economy, including the expansion of tourism, banking and ports, as well as the manufacturing sector, is creating strong demand for housing in larger cities, real estate specialists say.