Finance minister briefs Cabinet on real estate market

AMMAN — The Council of Ministers, headed by Prime Minister Hani Mulki, on Sunday listened to a presentation by Finance Minister Omar Malhas on economic indicators related to the real estate market in the Kingdom, which witnessed an increase in apartment sales in July.

Malhas noted that 3,673 apartments were sold during July, adding that this was the “highest” monthly sales in eight months, the Jordan News Agency, Petra, reported.

The council had previously decided to extend the exemption of registration fees for apartments or individual housing units, with areas not exceeding 150 square metres, for a full year until November 30, 2017. 

The decision also includes the exemption of fees for apartments of up to 180 square metres, with the first 150 metres covered by the exemption, but the additional space subject to registration fees, Petra added.