Muscat, Residential Market Outlook, Spring 2015
Cluttons has released its Muscat Residential Market Outlook Spring 2015 report.
The report contains the latest property performance data, and our view on the current and expected market conditions. Specific highlights include:
- Tenants remain budget conscious and continue to target what are perceived to be good value, high quality properties
- With oil prices remaining weak, there is growing concern around the economy’s ability to sustain the robust level of job creation and overall growth seen over the past 12-18 months. The subsequent impact on the rental market will be a stabilisation or even a weakening in demand
- The sales market has continued to perform well, with Muscat’s ITC developments attracting a mixture of buyers ranging from genuine end users to investors seeking to capitalise on the residential yields of circa 6-7%