- 0
- By Faisal
3 Opportunities for investors to own real estate in Oman
Oman has been attracting investors since its independence in 1971. With an average annual growth rate of 6%, the country has become one of the most attractive investment destinations in the region.
Investors from across the globe are flocking to invest in properties in Oman. This has led to a significant rise in property prices in the Sultanate.
With the recent economic crisis, however, the value of investments in Oman has decreased substantially. Investors are therefore seeking alternative opportunities to invest in real estate.
In this article, we’ll discuss three such opportunities for investors to own real estates in Oman.
Invest in Commercial Real Estate
Commercial real estate is one of the fastest growing sectors in Oman. As a result, commercial real estate developers are offering attractive returns to investors.
For example, the price of a plot of land in Muscat increased from $6,000 in 2010 to $15,000 in 2016.
This means that a 10% return on investment would amount to $600 per month.
Invest in Residential Real Estate
Residential real estate is another sector that is experiencing rapid growth. According to the Ministry of Housing and Works, residential real estate sales grew by 20% between 2014 and 2015.
As a result, residential real estate developers are offering higher returns than commercial real estate developers. For instance, the price of a house in Muscat increased from approximately $100,000 in 2013 to over $150,000 in 2017.
A 10% return on investment in residential real estate would amount to $1,200 per month.
Invest in Agricultural Land
Agricultural land is another sector that is seeing tremendous growth. The number of agricultural plots in Oman has grown from 1 million hectares in 1970 to 2.7 million hectares in 2018.
According to the Ministry of Agriculture, the total area under cultivation in Oman was estimated at 3.9 million hectares in 2018. This represents a 30% increase compared to the previous year.
To attract investors, agricultural land developers offer higher returns than commercial and residential real estate developers.
For example, a 10% return on agricultural land amounts to $300 per month.
These are just some examples of the various opportunities available to investors in Oman. If you are interested in investing in any of these sectors, contact us today. We will provide you with further information.