The recent analytical report published by Markntel Advisors (a leading consulting, data analytics, and market research firm), Oman Residential Real Estate Market comprises a detailed study of critical and major aspects of market dynamics, i.e. market trends, size, forecasts, growth factors, challenges, and competitor landscape.

In-Depth Market Overview of Oman Residential Real Estate Industry (2024-2030):

According to the latest report, The Oman Residential Real Estate Market size is estimated to grow at a CAGR of around 9.8% during the forecast period, i.e., 2024-30. The report demonstrates the prominent factors propelling the exponential growth of the Oman Residential Real Estate industry.

Key Takeaways: Beneficial for Stakeholders and Clients:

• Historical Data: 2019-22
• Base Year: 2023
• Forecast Period: 2024-30
• CAGR: 9.8%

What are the major Challenge facing the Oman Residential Real Estate industry?

Risks of Oversupply in the Oman Residential Real Estate Market Impeding Market Growth – A specific challenge facing the Oman Real Estate Market has been the potential oversupply of residential units, particularly in light of the numerous large-scale housing projects currently underway across various regions. This surge in construction activity initially intended to accommodate a growing population and expatriate workforce, risks leading to an imbalance where the supply of new housing outstrips actual demand. Further, specifically during 2019-2021, when the country faced significant economic challenges, the per-capita income of consumers also decreased. This has also affected the demand for new residential units during the historical years, leading to several residential units remaining unoccupied in areas like Muscat. This oversupply has resulted in lower occupancy rates and a decline in rental yields, which has ultimately impacted the profitability of real estate investments. Thus, the Oman Residential Real Estate Market has been negatively affected during the historical years.

Additionally, an excess of available properties would dampen future development incentives and decrease property values, presenting a significant hurdle for both developers and investors in the sector. Addressing this challenge requires strategic planning, market analysis, and potentially slowing down or reevaluating development plans to better align with actual market needs and absorption rates. 

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Oman Residential Real Estate Market Segmentation

The Oman Residential Real Estate Market analysis of Markntel Advisors explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic.  The further bifurcations are as follows:

• By Type
• Apartments and Condominiums- Market Size & Forecast 2019-2030F, USD Million
• Villas and Landed Houses- Market Size & Forecast 2019-2030F, USD Million
• By Region
• North
• Central
• South

As per the regional aspect, the Oman Residential Real Estate Market is expected to be dominated by North America by capturing the potential market share.

Explore further details about this research report - https://www.marknteladvisors.com/research-library/oman-residential-real-estate-market.html

Top Companies in the Oman Residential Real Estate Market

Al Raid Group, Al Mouj Muscat, Al Taher Group, Wujha Real Estate, Orascom Development Holding AG, Maysan Properties SAOC, Harbor Real Estate, Savills, Hilal Properties, Edara Real Estate LLC, and others

Oman Residential Real Estate Market Recent Development

2023: Al Mouj Muscat, a collaboration between Majid Al Futtaim Properties of the UAE and Oman Tourism Development Company (OMRAN), together with Tanmia Oman (Oman National Investments Development Company), has introduced Jinan Island. This exclusive enclave comprises 43 luxurious villas, each boasting five to six bedrooms and situated amidst a serene lake and expansive parkland.

2023: Orascom Development Holding AG, an internationally acclaimed developer, has partnered through its subsidiary, Muriya, with OMRAN, the leading governmental arm for tourism development in Oman, to launch Amazi. This new and highly sought-after waterfront residential resort is situated in Hawana Salalah and was designed by the esteemed SB Architects.

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