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- By Faisal
Real Estate Market in Oman
4 Things You didn’t knew about the Real Estate Market in Oman
Real estate is one of the most lucrative investments available today. If you invest wisely, you can reap huge profits. However, investing in real estate isn’t an easy task. There are many things to consider before buying property.
In this article, we’ll discuss four things you didn’t knew about the real estate market in Oman.
#1. Property Prices in Oman are Increasing
Property prices in Oman have been rising steadily since 2015. This means that investors are seeing higher returns on their investment.
However, the price of properties has increased significantly over the last two years. For example, the average price of a house in Muscat was $1 million in 2016. By 2017, the same property had risen to $1.7 million.
This trend is expected to continue in 2018. According to experts, the average price of houses in Muscat will rise to $2.6 million in 2018.
#2. Property Taxes in Oman are Low
Property taxes in Oman are low compared to other countries. As such, property owners don’t have to pay much tax on their property.
For instance, the government charges 0% property tax on residential properties. On commercial properties, the rate is 10%.
#3. Land Ownership in Oman is Easy
Land ownership in Oman is easy. All you need is a valid title deed. You can easily find land for sale online.
There are no restrictions on the amount of land you can purchase. You can buy any size of plot you desire.
#4. Buying Properties in Oman is Safe
Buying property in Oman is safe. Unlike other countries, there are no laws against foreign nationals owning property in Oman.
As long as you follow the rules set forth by the government, you should be fine.
Investing in real estate is a smart decision. Investing in property gives you access to stable cash flow.
It allows you to diversify your portfolio and protect yourself from inflation.
So, if you’re thinking about investing in real estate, read our guide on How to Buy Property in Oman. We’ll give you tips on how to choose the right property, how to finance your purchase, and how to avoid common mistakes.