Cabinet expands real estate exemption measures

AMMAN — The Cabinet on Wednesday decided to expand exemption measures and lower the registration and purchase fees of apartments and lands. 

The move is aimed at stimulating the sector and enabling citizens to own “proper” residences.

Under the decision, the first 150 square metres of apartments and lands have been exempted from registration and ownership transfer fees until the end of the year, regardless of the seller or the total area of the apartment or the number of apartments owned by Jordanians.

The remaining area of the apartment is now subject to lower fees and taxes, which total 50 per cent of the rates mentioned in the law, the Jordan News Agency, Petra, reported.

The decision also lowered land sale fees by 50 per cent of the rate mentioned in the law, including transactions among relatives, partners and others.

The tax on selling real estate has also been lowered to 50 per cent of the rate stipulated in the law.

These exemptions and lowered rates are effective until December 31. 

The new decisions and procedures are in response to demands of citizens who hope to benefit from the incentives that the government launched under the category of “stimulating the economy and investments”, and aim to help Jordanians, mainly limited-income segments, own apartments.

Prime Minister Omar Razzaz on Sunday announced new government measures to stimulate the national economy and investments. 

The programme comprises four facets: Stimulating the economy and investments, management and financial reform, improving citizens' livelihood and improving services comprehensively.

At the beginning of 2020, all aspects will have been completed, except for the aspect of improving services, Razzaz said during the launch ceremony for the programme.