Real estate trading reaches JD1.5b in Q1 2017

AMMAN — Real estate trading during the first quarter of 2017 amounted to JD1.505 billion, 6 per cent lower than the JD1.604 billion recorded during the same period of 2016, the Jordan News Agency, Petra, reported on Wednesday. 

The Department of Lands and Survey (DLS) said that the north Amman land registration directorate ranked first with a trading volume amounting to JD307 million, followed by the Amman land registration directorate at JD210 million, followed by the west Amman land registration directorate at JD177 million and fourth came south Amman land registration directorate at a trading volume of JD156 million.

Amman's land registration directorates and the main centre acquired 72 per cent of the total trading with a total of JD1.87 billion. 

Revenues in the first quarter of this year stood at JD78.5 million, 5 per cent less than the JD82.7 million in the same period last year, Petra reported, adding that real estate sales to non-Jordanian investors in the first three months of 2017 stood at 632 transactions, 479 were for apartments and the rest for land, at an estimated value of JD88.7 million.

Regarding nationalities, Iraqis ranked first in investment volume value, which stood at JD31.7 million, followed by the Saudis at JD30.5 million and the Lebanese at JD5.7 million. As for Syrians, they ranked fourth with a JD5.2 million investment volume.