Real estate trade drops by 11% until July

AMMAN — Trade volume in the Kingdom’s real estate market reached JD3.092 billion until July 2018, dropping by 11 per cent when compared with JD3.467 billion for the same period in 2017, the Department of Land and Survey (DLS) announced on Sunday.

Northern Amman registration office ranked first with trade volume of JD647 million, followed by central Amman registration office with JD385 million, while southern Amman office saw a trade volume of JD344 million.

Trade volume at Amman offices and the DLS headquarters amounted for 70 per cent of the Kingdom’s trade, roughly totalling JD2.153 billion, the Jordan News Agency, Petra, reported.

DLS revenues until July stood at JD157.9 million, going down from JD179.5 million in the same period in 2017 and constituting a 12 per cent decrease.

Real estate transactions filed by non-Jordanian investors decreased until July by 26 per cent to JD145.6 million, compared with JD196 million in the same period in 2017.

Iraqis topped foreign investors in the real estate market with a total value of JD59.7 million, amounting for 41 per cent, followed by Saudis whose trade volume totalled JD23.3 million, amounting for 16 per cent, while Syrians ranked third with JD11.3 million, amounting for 8 per cent, the DLS said.