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|04 September, 2018

Real estate market trade volume drops by 13% in Jordan

Trade volume in the Kingdom’s real estate market reached $5bln as of August 2018

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 — Trade volume in the Kingdom’s real estate market reached JD3.5 billion as of August 2018, dropping by 13 per cent from JD4.038 billion in the same period last year.

The report on the Kingdom's real estate, issued by the Department of Land and Survey (DLS) on Tuesday showed that the Northern Amman registration office ranked first, with trade volume of JD738 million, followed by the Amman lands registration office with JD435 million, while the Southern Amman office saw a trade volume of JD379 million.

Trade volume at Amman offices and the DLS headquarters amounted to 69 per cent of the Kingdom's trade, totalling JD2.4 billion,while the rest of the Kingdom's registration offices accounted for the remaining percentage of the trade volume, totalling JD1.08 billion.

DLS revenues until August reached JD178.8 million, going down from JD226.9 million in the same period of 2017, marking a 14 per cent decrease, the Jordan News Agency, Petra, reported.

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