Jordan's real estate trading crowns 2014 as record year

AMMAN — Real estate trading last year registered a record JD7.76 billion, 22 per cent higher than the amount  in 2013 when it stood at JD6.34 billion, the Department of Land and Survey (DLS) said on  Monday.

In its annual report e-mailed to The Jordan Times, the DLS revealed an overall 105,643 real estate transactions were registered in 2014, an increase of 7 per cent compared with 2013.

Of the total, 43,386 were registered in Amman (41 per cent), and 62,257 were registered in the other 11 governorates (59 per cent).

In Amman, 24,871 transactions were for apartments and 18,515 for land while in other governorates  11,337 were for apartments and 50,920 for lands. 

The DLS pointed out that its revenues in 2014 reached JD425.6 million, a 20 per cent increase over the figure collected in the previous year.

The amount would become JD507.1 million if JD81.5 million in apartment exemptions are taken into consideration, 22 per cent higher than the figure in 2013

The JD81.5 million in apartment exemptions last year were 37 per cent higher than the amount in the previous year.

According to the report, non-Jordanians last year accounted for 5,170 purchase transactions, 3,604 of which were for buying apartments and 1,566 for buying lands, at an estimated value of JD492 million, a 21 per cent increase compared with 2013.

The value of apartment purchases by non-Jordanians amounted to JD315.3 million, constituting 64 per cent of the total, with the value of land purchases amounted to JD176.7 million representing the remaining 36 per cent.

Iraqis topped the list of non-Jordanian investors with 2,224 real estate deals, followed by Saudis at 822. Kuwaitis came in third place with 471 deals and Syrians  with 445. 

In terms of the value, Iraqis were atop as they invested JD266.3 million, accounting for 54 per cent of non-Jordanian real estate trading.

Saudis ranked second with purchases valuing JD64.1 million that constituted 13 per cent of non-Jordanian purchases; Syrians came in third place with JD28.5 million, constituting 6 per cent; with Emiratis buying real estates worth JD17.4 million constituting 3.5 per cent.

Of the overall 105,643 real estate transactions that were registered in 2014, an increase of 7 per cent compared with 2013, 43,386 were registered in Amman (41 per cent), and 62,257 were registered in the other 11 governorates, (59 per cent).

In Amman, 24,871 transactions were for apartments and 18,515 for lands, in other governorates  11,337 were for apartments and 50,920 for lands.