Three things that moved
1. Mortgage registrations kept climbing
Muscat recorded 1,588 mortgage registrations in Q2 2026, up from 1,406 in Q1. Q1 itself was 20.6% higher than the Ministry’s Q1 2025 summary figure, a comparison we rate medium confidence because the 2025 and 2026 files are compiled differently. Nationally, registrations reached 6,930 in Q2. Mortgage registrations cover loans secured on existing property as well as new purchases, so read them as a measure of credit activity, not a count of sales.
2. Seeb carried the growth
Seeb accounted for 749 of Q2’s mortgage registrations, about 47% of the governorate, up from 629 in Q1. Bawshar rose from 279 to 316; Amerat was flat at around 400. South Maabilah alone recorded 724 mortgage registrations across the half-year, the most of any area in Muscat.
3. Strata approvals eased, but Bawshar accelerated
Approvals to divide buildings into apartments and floors fell slightly, from 1,208 in Q1 to 1,162 in Q2, and both quarters were below Q1 2025 (1,504). The mix changed: Seeb dropped from 721 to 495 while Bawshar rose from 291 to 476. Strata approvals lead new apartment stock onto the market, so Bawshar’s apartment supply is the one to watch into 2027.
What it means for investors
- Credit activity is concentrated in Seeb. Banks are lending most against property there, which points to a deep owner-occupier market for mid-market homes.
- Watch apartment supply in Bawshar. More strata approvals there can mean more competition for tenants in two to three years.
- The data still has gaps. None of these files carries prices or rents. Any claim about price growth in Muscat should come with its source.
Next update
The Q3 2026 files are expected around late November 2026, if the Ministry keeps its current schedule. Subscribe to Market Pulse by ticking the Market Pulse box on the enquiry form.
Sources: Ministry of Housing and Urban Planning, via Oman Open Data Portal, Real Property Transactions 2026 (Q1, Q2) (checked 25 Sep 2026); Ministry of Housing and Urban Planning, via Oman Open Data Portal, Real Estate Transaction Procedures 2025 (quarterly aggregates) (checked 25 Sep 2026)