Real estate trade volume drops by 12 per cent

AMMAN — Trade volume in the Kingdom’s real estate market reached JD3,96 billion until the third quarter of this year, marking a 12 per cent decrease compared with JD4.49 during the same period of 2017, the Jordan News Agency, Petra, reported.

In its real estate report, the Department of Land and Survey (DLS) indicated that the northern Amman registration office scored the highest level with a trade volume of JD833 million, followed by the Amman lands registration office with JD486 million. Meanwhile, the Southern Amman office saw a trade of JD424 million.

Trade volume at Amman offices and the DLS headquarters reached 69 per cent of the Kingdom’s trade, while remaining offices accounted for 31 per cent.

DLS’s revenues until September reached JD201 million, going down from JD229,4 million, a 13 per cent decrease compared with the same period last year.

The number of real estate sales for non Jordanian investors reached JD1,952 million until late September, a 25 per cent decrease from last year, according to Petra.

Iraqi nationals ranked first in the number of non-Jordanian investors, with 615 real estates’ sales, followed by the Saudi nationals, who performed 473 real estate sales. Meanwhile, the Syrians investors came third with 223 real estates’ sales. 

Concerning value, Iraqi nationals’ sales came first in the non Jordanian investors, with a total value of JD77,4 million, worth 42 per cent of the overall non-Jordanian sales. They were followed by Saudi nationals, whose investment value reached JD31,4 million, amounting to 17 per cent. Meanwhile, Syrians came third with JD13,9 million (7 per cent), Petra concluded.