The property market in Oman
In 2004, the government allowed foreigners to purchase Omani land in certain areas; however, the law was not ratified until 2006. Oman closely regulates where foreigners may buy, who can develop, and how fast developments are made. This has made the property market in Oman one of the most stable in the Middle East.
Using an estate agent in Oman
A good way to buy a property in Oman is through a real estate agent. They will be able to negotiate deals for you, especially if the seller speaks Arabic.
Buying property from a developer
There are many completed projects in Oman, but you may prefer to buy a property off-plan. In order to buy a property from a developer, you will first have to choose which of the designated areas you want to purchase in.
Getting a mortgage in Oman
The Central Bank of Oman strictly regulates the requirements for getting credit, and there are a lot of documents you must present to your bank. If you are already associated with an international bank such as HSBC, you may be able to avoid some of the paperwork.
Registering your Oman property
Registering your property is a relatively simple task, but it requires a bit of organisation. Both the buyer and the seller must be present at the registration, and you need to have your contact and property information on-hand.
Paying for electricity, water and gas
The government grants a monopoly to utilities companies in a given area. Bills are not always correct, so you should keep track of your utilities metres. Additionally, you should keep track of your receipts and payments so that you do not get overcharged.