https://i1.wp.com/www.goexpa.com/wp-content/uploads/2018/02/goexpa-oman-property-rates.jpg?fit=647%2C404&ssl=1 404 647 admin https://www.goexpa.com/wp-content/uploads/2018/01/goexpa1111-300x63.png admin2018-02-01 06:41:052018-02-01 06:46:27Oman house rent to be fallen due to Omanization
As the previous news was on air about the ban on certain jobs by the Omani government for the expats, the effects of this ban are directly effecting the Oman house rent or property business.
According to the experts of Property business, after the new visa rules of banning expats from certain jobs will be implemented, the supply of property will increase and the rents are expected to fall due to the lack of people renting the property.
This visa ban may help Omani nationals to a certain limit but it will be a very big loss to the real estate business as when an expat comes to a country, he rents a house, buys cars, bring their families, spend their money in the country, admits their children in schools, pays taxes and all this helps to give a boost to the economy. Now as the number of expats will decrease, houses will be empty soon and other major factors affiliated to a expat will also be finished.
Oman house rent is already on a very low rate of all time as according to a survey in 2017 and after this announcement of visa ban, there are more expectations of further deductions on house rents some by 25 percent and some even by 50 percent.