Oman's house markets plunge marginally in Q3

(MENAFN) Rents all over Muscat slumped slightly through the three months to September period, after five successive quarters of steadiness in the residential accommodation market.

The capacity of tenant necessities, however, has carried on to hold steady, with demand remaining centered on what are apparent to be high quality, well managed properties.

The main attributer behind the dip in rents in some areas has been the severe supply upturn in what is considered to be lower quality stock which is depressing rents over some submarkets.

"High quality schemes have seen rental values holding steady, with some even creeping upwards slightly," stated the international real estate consultancy Cluttons.