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[size=52]Despite the decline, Iraqis top the list of real estate buyers in Jordan[/size]
- Today 12:45
Information/Baghdad..
Official Jordanian financial data showed a significant decline in real estate purchases by Arabs and foreigners during the past year, amounting to 28 percent, as apartment sales to them declined by 29 percent and land sales by 26 percent compared to 2022.
Data issued by the Department of Land and Survey also showed a decrease in the estimated value of sales by non-Jordanians (Arabs and foreigners) during the past year by 33 percent compared to 2022, reaching 202.2 million dinars ($285.2 million). The trading volume in the Jordanian real estate market during the past year amounted to 6.961 billion dinars ($9.82 billion), which was concentrated in sales of residential apartments, lands for all uses, commercial complexes, and others.
Iraqi nationality came first in sales last year with a total of 597 properties and a value of 75.3 million dinars, followed by Syrian nationality with a total of 463 properties and a value of 23 million dinars, and Saudi nationality was third with a total of 367 properties and a value of 19 million dinars (dinar = 1.41 dollars). Kamal Al-Awamleh , an expert in the real estate sector
and former head of the Housing Sector Investors Association, said that the decline in non-Jordanians’ purchases of real estate in Jordan over the past year is due to several reasons, the most important of which is the Israeli aggression on the Gaza Strip, which cast a negative shadow on various sectors, including the real estate market. . He added that there is a decline in the demand for purchasing residential apartments and lands in Jordan during this period, and the situation may continue as it is during the coming period due to the rising fears of developments in the situation in the region while the pace of aggression against Gaza remains the same, which has affected all sectors.
He said that the real estate sector is one of the most important tributaries of the national economy and contributes to the revitalization of many sectors, and therefore its decline means that treasury revenues will be affected, which requires continuing to provide a stimulus package to increase real estate trading locally and attract Arab and foreign buyers within the necessary legal controls and determinants.
According to the data, the value of revenues from the Jordanian real estate market during the past year decreased by 5 percent compared to the year 2022, to reach 257.7 million dinars, while its value during last December decreased by 18 percent compared to the same month in 2022, and decreased by 2 percent in percent compared to the previous month, reaching 18.3 million dinars. Real estate sales activity in Jordan also decreased last year by 5 percent. End25
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Official Jordanian financial data showed a significant decline in real estate purchases by Arabs and foreigners during the past year, amounting to 28 percent, as apartment sales to them declined by 29 percent and land sales by 26 percent compared to 2022.
Data issued by the Department of Land and Survey also showed a decrease in the estimated value of sales by non-Jordanians (Arabs and foreigners) during the past year by 33 percent compared to 2022, reaching 202.2 million dinars ($285.2 million). The trading volume in the Jordanian real estate market during the past year amounted to 6.961 billion dinars ($9.82 billion), which was concentrated in sales of residential apartments, lands for all uses, commercial complexes, and others.
Iraqi nationality came first in sales last year with a total of 597 properties and a value of 75.3 million dinars, followed by Syrian nationality with a total of 463 properties and a value of 23 million dinars, and Saudi nationality was third with a total of 367 properties and a value of 19 million dinars (dinar = 1.41 dollars). Kamal Al-Awamleh , an expert in the real estate sector
and former head of the Housing Sector Investors Association, said that the decline in non-Jordanians’ purchases of real estate in Jordan over the past year is due to several reasons, the most important of which is the Israeli aggression on the Gaza Strip, which cast a negative shadow on various sectors, including the real estate market. . He added that there is a decline in the demand for purchasing residential apartments and lands in Jordan during this period, and the situation may continue as it is during the coming period due to the rising fears of developments in the situation in the region while the pace of aggression against Gaza remains the same, which has affected all sectors.
He said that the real estate sector is one of the most important tributaries of the national economy and contributes to the revitalization of many sectors, and therefore its decline means that treasury revenues will be affected, which requires continuing to provide a stimulus package to increase real estate trading locally and attract Arab and foreign buyers within the necessary legal controls and determinants.
According to the data, the value of revenues from the Jordanian real estate market during the past year decreased by 5 percent compared to the year 2022, to reach 257.7 million dinars, while its value during last December decreased by 18 percent compared to the same month in 2022, and decreased by 2 percent in percent compared to the previous month, reaching 18.3 million dinars. Real estate sales activity in Jordan also decreased last year by 5 percent. End25
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