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How to Make a Fortune in 2024 by Investing in Muscat’s Luxury Apartments Under Construction (part 1 of 4)

How to Make a Fortune in 2024 by Investing in Muscat’s Luxury Apartments Under Construction (part 1 of 4)

Want to buy real estate in Muscat, Oman? Write us on WhatsApp and we will find the best options for you. Everyone buys from us!

Introduction

Muscat, the capital and largest city of Oman, is a vibrant and cosmopolitan metropolis that offers a rich and diverse cultural heritage, a stunning natural landscape, and a dynamic and prosperous economy. Muscat is also home to some of the most luxurious and exclusive real estate projects in the Middle East, attracting both local and foreign buyers who seek high-quality and high-value properties in a stable and secure environment.

Buying property under construction in Muscat can be a smart and rewarding decision for investors and residents alike, as it can offer several benefits, such as lower prices, higher returns, more choices, and more customization. However, buying property under construction also involves some risks and challenges, such as delays, defects, disputes, and legal and financial complexities. Therefore, it is essential to have a clear and comprehensive understanding of the market, the process, and the strategies involved in buying property under construction in Muscat.

How to Make a Fortune in 2024

In this article, Real Estate Group will provide you with a detailed and practical guide to buying a luxury property under construction in Muscat, Oman in 2024 for investment or residence. We will cover the following topics and strategies:

1. Buying property under construction for living: how to choose a suitable property for your lifestyle, budget, and preferences, and what are the best areas and projects to buy property under construction for living in Muscat.

2. Buying property under construction for resale: how to choose a profitable property for your investment goals, and what are the best areas and projects to buy property under construction for resale in Muscat.

3. Buying property under construction for renting: how to choose a rentable property for your income objectives, and what are the best areas and projects to buy property under construction for renting in Muscat.

4. How to choose a real estate agency in Muscat: how to find and select a reputable and professional real estate agency that can assist you with your purchase, and what are the best real estate agencies in Muscat.

5. How to formalize the purchase of a property under construction in Muscat: how to complete the legal and financial procedures and requirements for buying a property under construction in Muscat, and what are the fees and taxes that need to be paid. We will also explain how to get a residence permit in Oman when buying a property.

6. What can be the profit with investment strategy and what taxes need to be paid with investment strategy in Muscat, Oman in 2024.

By the end of this article, you will have a thorough and useful knowledge of how to buy luxury property under construction in Muscat, Oman in 2024 for investment or living. You will also be able to make informed and confident decisions that will help you achieve your real estate goals and dreams in Muscat. So, let’s get started! 

Chapter 1: Buying property under construction for living

Buying property under construction for living in Muscat can be a great option for those who want to enjoy a high-quality lifestyle, a comfortable climate, and a rich culture. Muscat offers a variety of neighborhoods that cater to different tastes, preferences, and budgets. However, not all neighborhoods are equally suitable for living, as some may have more advantages than others in terms of location, infrastructure, amenities, views, and prices.In this chapter, Real Estate Group will look at some of the best areas to buy a build-to-suit property to live in Muscat, Oman in 2024 and highlight their key features and benefits.

Al Mouj

Al Mouj, formerly known as The Wave, is one of the most prestigious and popular neighborhoods to buy property for living in Muscat. Al Mouj is a master-planned waterfront community that spans over 6 km of coastline and covers an area of 2.5 million sqm. Al Mouj features a range of luxury properties, from apartments and townhouses to villas and penthouses, that offer stunning views of the sea, the marina, or the golf course. Al Mouj also boasts a world-class infrastructure and amenities, such as a 400-berth marina, an 18-hole golf course, a shopping mall, a hotel, a school, a hospital, and a variety of restaurants, cafes, and leisure facilities.

The advantages of buying property under construction for living in Al Mouj are numerous, such as:

  • The opportunity to live in a modern, upscale, and secure neighborhood that offers a high standard of living and a vibrant lifestyle.
  • The access to a wide range of facilities and services that cater to all needs and interests, such as sports, entertainment, education, and health.
  • The proximity to the airport, the city center, and other major attractions and landmarks in Muscat.
  • The potential for capital appreciation and rental income, as Al Mouj is one of the most sought-after and valuable areas in Muscat.

The prices of property under construction for living in Al Mouj vary depending on the type, size, location, and view of the property. According to Luxe Properties, the average price of an apartment under construction in Al Mouj is around OMR 150,000 (USD 390,000), while the average price of a villa under construction in Al Mouj is around OMR 500,000 (USD 1.3 million).

Madinat Al Sultan Qaboos

Madinat Al Sultan Qaboos, also known as MQ, is another excellent neighborhood to buy property for living in Muscat. Madinat Al Sultan Qaboos is a well-established and well-maintained residential area that is located in the heart of Muscat, close to the diplomatic and commercial districts. Madinat Al Sultan Qaboos offers a variety of properties, from apartments and townhouses to villas and compounds, that are surrounded by lush greenery and landscaped gardens. Madinat Al Sultan Qaboos also has a good infrastructure and amenities, such as a shopping center, a supermarket, a mosque, a school, a clinic, and several restaurants, cafes, and salons.

The advantages of buying property under construction for living in Madinat Al Sultan Qaboos are:

  • The convenience and accessibility of living in a central and prime location that is close to all the main attractions and facilities in Muscat.
  • The comfort and tranquility of living in a spacious and green neighborhood that offers a relaxed and friendly atmosphere.
  • The diversity and affordability of living in a neighborhood that caters to different needs and budgets, as Madinat Al Sultan Qaboos has a wide range of properties and prices.

The prices of property under construction for living in Madinat Al Sultan Qaboos depend on the type, size, location, and condition of the property. According to Savills, the average price of an apartment under construction in Madinat Al Sultan Qaboos is around OMR 80,000 (USD 208,000), while the average price of a villa under construction in Madinat Al Sultan Qaboos is around OMR 300,000 (USD 780,000).

Shatti Al Qurum

Shatti Al Qurum, also known as Shatti, is a third neighborhood that is ideal for buying property for living in Muscat. Shatti Al Qurum is a beachfront community that is located in the north of Muscat, near the Royal Opera House and the Intercontinental Hotel. Shatti Al Qurum features a range of properties, from apartments and townhouses to villas and penthouses, that offer spectacular views of the sea, the mountains, or the city. Shatti Al Qurum also has a great infrastructure and amenities, such as a public beach, a park, a cinema, a mall, a hotel, a school, a hospital, and a plethora of restaurants, cafes, and bars.

The advantages of buying property under construction for living in Shatti Al Qurum are:

  • The beauty and charm of living in a neighborhood that offers a stunning scenery and a pleasant climate.
  • The fun and excitement of living in a neighborhood that offers a lively and cosmopolitan lifestyle, with plenty of options for entertainment, leisure, and socializing.
  • The prestige and value of living in a neighborhood that is one of the most desirable and expensive areas in Muscat.

Want to buy real estate in Muscat, Oman? Write us on WhatsApp and we will find the best options for you. Everyone buys from us!

The prices of property under construction for living in Shatti Al Qurum vary depending on the type, size, location, and view of the property. According to Luxe Properties, the average price of an apartment under construction in Shatti Al Qurum is around OMR 120,000 (USD 312,000), while the average price of a villa under construction in Shatti Al Qurum is around OMR 400,000 (USD 1.04 million).

These are some of the best neighborhoods to buy property under construction for living in Muscat, Oman in 2024. However, there are other neighborhoods that may also suit your preferences and goals, such as Al Khuwair, Al Ghubra, Al Hail, etc. Therefore, Real Estate Group recommends doing your own research, consulting with a professional real estate agent and personally visiting the properties before making a final decision. I hope this chapter helps you with finding your dream home in Muscat.

Read the continuation in part 2

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