Oman’s residential rents drop by 12.7 percent

07 Jul 2016

The demand for rented accommodation and housing units dropped in Oman, recording a 12.7 percent decline during Q1 of this year.

Furthermore, the residential rental market continues to be under stress, as firms tries to adjust to the market conditions and minimize expenses.

However, vacancy rates across the villa segment grew, leading a 14.1 percent year on year decline in average monthly villa lease rates.

The Sultanate has benefited from a large supply of new quality apartments in the last two years.

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