15/06/2026 03:23 AST
Oman's real estate market continued its upward trajectory in the first quarter of 2026, with the country's real estate price index climbing 15.9 percent year on year, official data showed.
Data released by the National Centre for Statistics and Information indicated that commercial property prices grew by 10.5 percent, driven by a 16.5 percent increase in industrial land prices and an 11 percent gain in commercial land prices, while retail shop prices declined by 1.8 percent, the Oman News Agency reported.
The latest figures come as Oman continues to advance its Vision 2040 agenda, which identifies the real estate sector as a key driver of economic diversification through urban development, private-sector investment, and sustainable cities. The strategy also seeks to improve the investment environment and expand housing and commercial developments to support long-term economic growth.
Oman's residential real estate market is projected to grow from $5.29 billion in 2026 to $7.34 billion by 2031, driven by Vision 2040 infrastructure projects, population growth and reforms expanding foreign ownership opportunities, according to Mordor Intelligence.
"The residential property price index also saw growth of 17.6 percent in the first quarter of this year compared to the same quarter of 2025," the ONA report said.
It added: "This increase is attributed to a 21 percent rise in residential land prices, a 4.4 percent increase in apartment prices, and a 9 percent increase in villa prices, while other types of housing prices decreased by 1.1 percent."
The data further showed that at the governorate level, Muscat led residential land price growth in the first three months of 2026, with a 43.6 percent increase compared with the same quarter of the previous year. It was followed by Al Buraimi at 25.9 percent, Musandam at 17.6 percent, and Dhofar at 10.8 percent.
Residential land prices also increased in Ad Dakhiliyah by 5 percent, followed by South Al Sharqiyah at 4.7 percent, and South Al Batinah at 4 percent, as well as Ad Dhahirah at 2.5 percent, Al Wusta at 2 percent, and North Al Batinah at 0.2 percent.
In contrast, North Al Sharqiyah was the only governorate to record a decline, with residential land prices falling 14.9 percent year on year.
Arab News
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