36% Increase in Real Estate Trading Volume Over the Last Three Years

Al-Anbat- Saba'a Alsuccar

Translated by Batool Hajjaj

Trading volume in Jordan's real estate market during the first 10 months of 2022 was 4.875 billion dinars. An increase of 36% over 2019 for the same period in which the value of trading was 3.581 billion dinars The value of the revenues during the first 10 months of 2022 reached 224,445,276 dinars, 21% higher than the value of 2019 's revenues for the same period of time amounting to 185,299,261 dinars, apartment exemptions reached during the first 10 months of the year 2022 94,079,587 dinars, up 48% from the first months of 2019, for 48,652,730 dinars, revenue and apartment exemptions during the first 10 months of 2022, For 318,524,863 dinars, an increase of 36% over 2019, the value of revenue and exemptions reached 233,951,991 dinars. 

Wajdi Al-Makhamra said that the high volume of real estate trading came for several reasons; most notably, other nationalities prefer to own apartments or properties in other countries, noting that Iraqi and Saudi nationalities are the most purchasers of real estate in the country for the purposes of investing or owning for the receptor and during public holidays in their country. 

In a special statement to Al-Anbat, he added that apartment exemptions also contributed to the rise in the volume of trading for the first 10 months of 2022, which clearly raised the value of the government's revenues compared to previous years in the light of the fees achieved by the sale of the property, which contributed to the rise in the revenue of the property well. 

Similarly, the percentage of property sales to non-Jordanian investors rose during the first 10 months of 2022, to 21% compared to the same period in 2021, while the number of properties (2931), including (1853) apartments (15%), and (1078) plots (31%), was an area: (282,151 square meters of apartments and 14,378,034 square meters of land estimated at 258,419,831 dinars), an increase of 31% dinars compared to the same period in 2021: 122 964 160 dinars (62% dinars) for apartments and 97,455,709 dinars (38%).

Iraqi nationality came in the first 10 months in first place in total (753) real estate, followed by second place Saudi nationality in total (707) real estate, Syrian nationality in third place in total (411) real estate, fourth place American citizenship in total (130) real estate and fifth Kuwaiti nationality in total (129) real estate.