R>Rental values for residential properties in Oman have stabilised to some degree, save for key popular residential developments which are experiencing some price increases due to a shortage of supply, the latest real estate market report from Cluttons shows.

The overall economic picture is bright and the value of property traded in the first five months of the year has increased by 59.7% compared to the same period in 2011, rising from OMR506 million to OMR808 million, it shows.

Cluttons says that the figures indicate that there is greater confidence and activity in the real estate market backed by an increasing availability of mortgage finance.