GCC nationals rush to buy properties in Salalah, Oman

Muscat: There has been a huge rush by Gulf nationals to buy real estate in Salalah over the past three months, according to Oman’s Ministry of Housing.

Real estate experts believe that Salalah is one of the important places to own a property due to its economic and tourist potential.

The Housing Department of Dhofar has issued 109 properties certificates to Gulf Nationals. Kuwaitis topped the list, buying 85 properties last May. Emiratis are second with 10.

Salalah is a popular summer destination. It is known for its moderate temperatures during the summer and lush green landscapes.

The number of people wanting to own a property in Oman is going up due to good returns and cheaper market as compared to their neighbouring states, an official at the Ministry of Housing told Gulf News.

GCC citizens are allowed to purchase property in member states without restrictions, while expatriates can only buy in freehold areas in states that have such provisions.

The volume of real estate transactions in 2015 stood at more than six billion riyals (Dh57.2 billion), a 10 per cent increase from 2014.