The real estate market in Oman opened to foreigners in 2002 as a part of the vision 2020 plan. This plan was executed to reduce the dependency on oil revenues. Following this in February 2006 other nationals were given the right to own properties that are part of an integrated tourism complex the government has recently opened the market hoping for more foreign buyers flocking into the market. The growing expatriates fuelled the boom of real estate in Oman. By 2016 there were about 2 million expats with the expatriate workforce reaching 1,747,000. This trend continued and the percentage of expatriates in Oman is 43 percent whilst the remaining 53 are locals.
In 2009 the values of ITC fell but the properties remained in demand because of their superior design, convenience, and facilities. The homeowners are going for low priced residential property. The figures show that the value of transaction value increased in the first two months after 2016 while the traded value declined from OMR 1 million to OMR 563 million. This trend is predicted to be the same and the number of expatriates is sure to grow as the market rates are at rock bottom. As the property prices are sinking, the rentals are also seeing a dip in the price. The rents started seeing a fall by 12.1 percent in 2016 and the same is continuing. If you are looking for a flat for rent in Muscat, then this is the right time. Let us see how to find a luxury apartment In Muscat and what you should look for before going for a rental property.
Luxury apartment in Muscat
The luxury apartment in Muscat is the one that provides all the required amenities under one roof. These residential apartments are large and spacious and are usually located in premium areas of the city. This type of apartment is mostly-sought after by people as they are designed and decorated in a great manner.
Furnished apartments for rent in Muscat are highly in demand due to the great ambiance and the falling prices of rentals. The city also offers a wide array of activities for the residents in addition to giving high standards to them. The apartment in Muscat is well-maintained, secure, and offers great privacy. Before renting an apartment in Muscat you have to understand the lease terms as the lease terms are comparatively tough in Muscat.
What are the factors that you have to consider before looking for a rental apartment?
- Location: makes sure that the apartment is located in the center of the city or a town. If you want a fun social life look into it that the apartment is located in close proximity to the areas where lots of fun activities take place. Apart from this, check the provision of transport systems and all essential facilities in the neighborhood.
- Design and functionality: when looking for apartments for rent in Muscat Oman it is imperative to check all the features of the apartment and it is designed to improve and enhance the functionality and comfort of living. Make sure that the apartment provides the privacy you need and security. It should also have the latest technology appliances and gadgets to live luxuriously. Also, check that the security guards are trained and all digital devices are in place.
- Special services: see if the luxury apartments provide any special services such as concierge, laundry, babysitting, and housekeeping. If they provide such facilities there are chances that you have to pay an extra fee for all.
- Space: visit the apartment and make sure that it has enough space to accommodate everyone who is going to live there. It should not be cramped and also privacy shouldn’t be a problem.
- The neighborhood: the safety of the neighborhood has to be paid attention to and made sure that it is completely safe. Security is of paramount importance so that the chances of theft can be avoided.
- Rules: if you are going to an apartment, know whether there are any rules that have to be followed. Most of the apartment owners want their apartment to be returned the same way it was while renting at the end of the lease period.
- The lease term: before signing the rental lease read all the points of the deal and understand it well to avoid any future inconveniences. The lease period in Muscat is for a minimum of 3 months and a maximum of 3 years.
How to find a rental apartment?
Finding new apartments for rent in Muscat is not a tedious job as there are a lot of sources to search for one.
Real estate agent: one of the simplest ways to find an apartment for rent is to hire a real estate agent. The real estate agents have thorough knowledge about the property market and will suggest the best property that will suit you. The agents that you hire will carry out the entire process of finding the perfect apartment according to your needs and sealing the deal. They will receive a commission from the buyer. The real estate agents are aware of all the legal formalities that are involved in the process of renting a luxury apartment and they will explain to you in detail about the documents needed and the terms and conditions of the owner.
They will be aware of the apartments that are available in the market and they can find you the perfect apartment.
Advertisements, referrals, and recommendations: if you know a friend or family in Muscat you can also take their references and recommendations to find the apartment. Most of the people are helpful and may suggest you with some pace that they know. The problem with referrals is that you have to handle everything on your own from sealing the deal to sorting out all legal terms. If you don’t like the apartment they suggested then you will be left with no options. Another option to know about rental property is from rent sections of magazines and newspapers.
Websites: everything can be bought and searched online and finding an apartment for rent is not an exception. The fully furnished flat for rent in Muscat will be categorized into various categories such as I bedroom, 2 bedrooms and etc. you can select the type of apartment that you want and then look at the various options that are listed. The best part is that you can refine your search by applying filters and narrowing down the apartment of choice. You can also set the price range within which you want to find an apartment. It is also easier to find an apartment of your choice this way.
The websites will have a detailed description of the rental property including location, amenities provided, detail of the neighborhood, and the condition of the apartment and also images of the apartment to make the selection. You can directly communicate with the owner without any agent in between. If you are looking for a 1 bedroom apartment in Muscat, then search it online.
Oman is the perfect picturesque place for amazing apartments for rent in Muscat. You can enjoy life in Muscat if you seek the help of the right rental service. If you have decided to shift to Muscat then without further ado contact the best rental service.