Rents in Oman are expected to fall again in 2018, according to property experts, following the announcement of new visa rules that ban expat workers from specific professions, coupled with an oversupply of properties, according to reports.
“There is an effect due to the new expat laws. With fewer expats coming, there will be fewer people renting houses, so the market will go down this year. I think the only way is to allow more freedom for expats,”Ammar Al-Safar, rental in-charge at the Al Qandeel Real Estate said.
With fewer expats coming, there will be fewer people renting houses, so the market will go down this year.
“Once they come in, they have to rent a house, buy a car, bring their family and send their children to school. All of this is a boost to the economy and without it, the real estate sector will go down,” Al-Safar added.
Source Credit: Arab News
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