Land Prices in Oman

[IceTea]

Why the price of lands in Oman are increaing dramatically in a short periods ? It's difficult to find a pice of land in Muscat now adays size 600 SQM for less then 20,000 Omani rials (thats about 52,000 $) !!.

In Muwallah area for example the price of lands now double as before, the land which used to cost 6000 rials now costs 12 to 15 thousands in this area.

What do you think the reasons behind this sudden jump in the price and who control the price anyway ?

[qais]

maybe these areas are more accessable ----near the CBD.

[Navy_boy]

Icy Land prices never go down ,,
for quick increasing,,maybe coz of ppl who deal with selling & buying Lands have decided to put high price ,,, actually they control all lands prices..

[Seniora]

what determines the price of land in oman apart from its location?
does the economic stability of the country effect the price of lands that belong to indiviuals - as in personal property?

[Muscati]

Land prices have been shooting up for the past two years. Experts in the field of real estate speculation and investment believe that the run up will continue in 2003 with some stabilization in prices before a major correction 2004 or 5. The present increases are unsustainable. 600 square meter plots in Athaiba have now reached 32,000 rials and are still rising. A year ago they were at 18 to 22,000.

[IceTea]

In my opinion the following factors are causing the increase in land prices:

1. The demand is higher then the supply.

2. People joining the group savings (Jam3yat) and therefore they have the cash to buy a land.

3. Reach of a service to an area (e.g water, telephone, electricity, blacktop roads, etc)

4. Development of the surrounding areas (e.g opening of new shopping centers, complexs, etc).

This will cause people with low income to suffer from being able to own a land.

Also you will notice that the increase in the land prices doesn't affect the rent prices in same area !

[nas206]

I agree with you

[raffee]

OMG!!! Im coming to buy a house in Oman!

Here, to buy a house in an average area of surburban Sydney, you would be looking at $350, 000 Aussie dollars!!!!!(Which is about $170,000 US)

[IceTea]

raffee don't be so excited the houses in Oman is too expansive too. And it depends on the house specifications, a one story villa in Muscat in al Athaiba area (ofcourse I don't expect you to know the location :) ) will cost around $ 117,000 US. And at same location a duble story villa will cost something like $ 234,000 US.