Real estate trade volume drops 24%

AMMAN — Trade volume in the real estate sector dropped 24 per cent to JD345 million in January, compared with the JD453 million recorded in January of 2018, the Jordan News Agency, Petra, reported on Wednesday.

The Department of Land and Survey (DLS) said that revenues dropped by 21 per cent, comparatively, from JD22.8 in January 2018 to JD18.1 million in January 2019.

Exemptions on apartment sales and real estate revenues dropped by 24 per cent as well, totalling JD22.5 million in January 2019, down from JD29.6 million in January 2018, the DLS said.

The Central Amman registration office ranked first in trade volume with JD65 million, followed by the Amman registration office with JD50 million.

The southern Amman registration office came in third with JD33 million in total trade volume, while the western Amman office came in fourth, totalling at JD28 million.

Gross sectoral sales to non-Jordanians have also decreased by 20 per cent in January to JD18 million, compared with JD22.7 million in January 2019.

Real estate investment volume by Iraqi nationals ranked first with JD7.8 million, followed by Saudi and Yemeni sales, totalling at JD2.7 and JD2.3 million, respectively.