Tuesday February 07, 2012 |
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Off Plan Investment Property Oman
Oman is one of the most pro-Western countries in the Gulf andis a world away from the hustle and bustle of Dubai, but it’s got all the essential ingredients; sunshine, sandy beaches, and plenty to do from sailing and diving to dolphin watching and off-roading. As such, Oman is giving its rival Dubai a run for its money in the investment property race.
Real estate is Oman’s latest growth area, with new property ownership laws announced in 2004 and ratified by Royal Decree in February 2006. These rules allow foreigners to purchase freehold properties in designated tourist areas. In Oman property developers tend to opt for low-density projects with architectural styles in harmony with local heritage. This has resulted in Oman experiencing major interest from property investors for their off plan residential property developments and many commercial property investment opportunities.
Off Plan Property Oman
Off-plan investments in Oman have appreciated by over 40 per cent since 2004.
Oman Property – Investing in an Emerging Tourist Market
Don’t underestimate Oman’s tourism potential. Oman has been gearing itself from the outset towards a high net worth market. Three or four years ago hotel occupancy averaged around 30 per cent. Now it’s nearer 90 per cent, with over one million visitors a year and growing. Oman boasts over 1,700km of pristine coastline and a variety of landscapes beyond the archetypal wind-blown desert scrub.
The nation is divided into three main areas:
Flight time from the UK to the capital at around eight hours isn’t bad either for long haul; BA and Gulf Air two of a growing number of airlines offering non-stop flights from Heathrow, with additional connecting flights via Dubai and Abu Dhabi.
