TO SELL YOUR PROPERTY WITH TAIF REAL ESTATES

The Taif / Morry Residential Property Index is the timeliest indicator of housing price movements available in Oman today.

In the past market analysts and the public have waited, at best a month, at worst six months, for any indication of market direction.

Often the reported statistics on median prices come from property settlements during the reporting period. These prices would have been negotiated, on average, six weeks prior to settlement and for off the plan sales it may be years since the price was agreed. This has led to much debate about the timeliness and usefulness of these statistics.

The Taif / Morry Residential Property Index is based on the contract price of sales negotiated during the reporting period, making the base data the most up to date measure of market activity during the period. Further, the Index will be available within two weeks of the end of the reporting period, making it the most timely market report available.

Taif has an extensive network covering most geographic areas of Oman. With a national spread and high market activity levels, Taif is the perfect microcosm of the Oman residential real estate market.

Taif has been storing information on property sales since July 2001. They have also been building a database of the entire market sales since January 2003 and have listing data going back to September 2000.

Each month the Index will provide an indication of the movement in median prices in each location based on a rolling three months of sales throughout Oman.

To create the Index Taif sales in each location have been divided into a number of regions. A total weighted median for the locations is then calculated, based on aggregating the medians for each region, and weighing them in accordance with the number of houses in each region. This ensures that the index reflects a representative sample of the distribution of the residential housing stock.

Taif data provides a large enough sample to give a relevant index when weighted.