The residential property market in Oman set to improve in 2012 with the demand remaining strong, especially among the expat community, who continue to aspire to the high standards of design and finish, said a top property consultant.

The Grade A standards of The Wave, Muscat, a gated community with freehold apartments, townhouses and villas, accurately reflect the sales and rental prices with superior quality, design and facilities elements, added Cluttons.

Almeria East apartments and Neem Townhouses are some of the newly released phases that are prime showcases, Cluttons said in a statement.

Overall rental rates for this development have remained high, with the demand of superior units, outweighing the short supply of these types of quality developments within the capital.

With Oman’s real estate sector remaining relatively anchored and positive in the year ahead, Cluttons foresees that this development will prove to be attractive to both investment and retirement buyers providing strong yields in the property investment sector.

These returns are also supported by the popularity of ITC’s (Integrated Tourist Complex) in the capital, which will continue to be in high demand, due to build quality and an increasing expat community, Cluttons said. – TradeArabia News Service