Real estate trade volume dips by 44% in first-half of 2020

AMMAN — The real estate trade volume in the Kingdom dropped by 44 per cent in the first-half of 2020 compared with the same period of 2019 to JD1.125 billion, the Department of Land and Survey announced on Sunday.

According to the department’s monthly report, cited by the Jordan News Agency, Petra, the department's revenues in the first six months of 2020 declined by 56 per cent to JD46 million compared with the January-June period of last year.

On a monthly basis, the real estate trade volume in June alone stood at JD291 million, up by 6 per cent compared with the same month of last year.

The department's revenues in June 2020 dropped by 14 per cent to JD12 million compared to the same month of 2019. 

The real estate sales in the first-half of 2020 dropped by 21 per cent, where apartment sales declined by 24 per cent and land sales decreased by 20 per cent, compared with the first-half of 2019.

Real estate trade volume during 2019 reached JD4.632 billion.

The number of real estate sales to non-Jordanian investors during 2019 stood at 3219, with an estimated value of JD236 million, marking a decrease of 17 per cent, compared with the same period in 2018.

Meanwhile, Iraqis ranked first followed by Saudis and Gazans in top real-estate purchasers in 2019.