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|05 December, 2018

Jordan's real estate trading drops by 14% in 2018

Real estate transactions filed by non-Jordanian investors reached 2460: report

Image used for illustrative purpose. A general view of Amman city shows the turrets of the "Jordan Gate" project

Image used for illustrative purpose. A general view of Amman city shows the turrets of the "Jordan Gate" project

REUTERS/Muhammad Hamed

AMMAN — Trading volume in the Kingdom’s real estate market fell to JD4.815 billion by the end of November 2018, a 14-per cent drop from the same period in 2017, when the total deals’ value reached JD5.629 billion.

The monthly report on the real estate in the Kingdom, issued by the Department of Land and Survey (DLS) on Tuesday, showed that northern Amman Registration Office ranked first in the sector, with a trade volume of JD1.002 billion, followed by Central Amman Registration Office with JD597 million, while Southern Amman Office saw JD513 million worth of transactions.

The trading volume at Amman offices and the DLS headquarters amounted for 69 per cent of the national figure, totalling JD3.320 billion.

Meawhile, the rest of the Kingdom’s registration offices accounted for 31 per cent of real estate trade, totalling JD1495 million.

DLS revenues reached JD244.8 million, compared with JD284.8 million in the same period in 2017; constituting a 14 per cent decrease, the Jordan News Agency, Petra, reported.

Real estate transactions filed by non-Jordanian investors reached 2460, roughly amounting to JD248 million, with Iraqis topping the list of foreign investors in the real estate market with 781 estates, totalling JD105.3 million and amounting for 42 per cent all estates bought by non-Jordanians. Saudis followed with 577 estates at a value of JD40.5 million and accounting for 16 per cent, while Syrians ranked third with 276 estates, totalling JD16.5 million and constituting 7 per cent, the DLS said.

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