Real estate trading volume down by 24% in five months

AMMAN — The volume of trading in the Kingdom’s real estate market during the first five months of 2019 dropped by 24 per cent to JD1,755 million, compared with JD2,324 million in the same period last year, according to the Department of Land and Survey (DLS) report announced on Monday.

Revenues of the DLS stood at JD91.7million, marking a 24 per cent drop, in comparison with JD120.6 million during the same period of comparison.

Non-Jordanian investors made 1,099 real estate sales, including 664 apartments and 435 parcels of land estimated at JD111.3 million, compared with JD112.7 million during the same period in 2018.

Iraqi nationals ranked first in the number of non-Jordanian investors, with 285 real estate sales, followed by the Saudi nationals, who performed 223 real estate sales. Meanwhile, Gazans came third with 168 real estate sales.

Concerning value, Iraqi nationals’ sales came first among non-Jordanian investors, with JD50.3 million, constituting 45 per cent of the total value of non-Jordanian investments in this sector, followed by Saudi sales with a total value of JD11.1 million, worth 10 per cent of the overall non-Jordanian sales.

Gazans’ purchases came third, totalling JD9.7 million, amounting to 9 per cent.