Categorized | Featured, International

Oman’s Residential Real Estate Market Thriving

Oman’s Residential Real Estate Market Thriving
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The residential real estate market in the nation of Oman has experienced significant increases over the past few months. The success within the property market is largely due to the booming economy, which has since recovered from the effects of the global recession.

The improving real estate market in Oman reflects the tremendous growth in the employment rate of the country. With high oil prices worldwide bringing in a strong amount of money into the oil-rich nation, employment figures have jumped more than twenty percent. Income has increased nearly thirty percent during the same time period.

With its strong economy, Oman has seen a sharp increase in demand within its residential rental market. As the economy continues to grow, more international businessmen, and those looking for jobs will likely create growth in the nation, thus fueling greater residential rental property demands.

There are still areas in Oman that are considered more desirable than others. In general, the larger cities and coastal areas remain the most popular for residential real estate. However, all those looking to buy or rent a residential property, regardless of location, prefer high quality and beautifully designed properties.

With demand outpacing supply across the country, it is very likely that housing prices will continue to see strong increases. The economy of Oman is expected to continue its growth, and with little government debt, it is quickly becoming a prime area for business. As the rest of the world prepares for the possibility of another global recession, Oman appears to be safe from decline, and thus has become a popular choice among real estate investors.

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About Nancy Raven

Nancy is the main writer for the International section of the website. Sometimes she also helps Drew out on the Finance/Mortgage section as well.

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