Volume of real estate trading in Jordan declines 3 percent in first 9 months
Date
10/7/2024 4:26:03 AM
(MENAFN) The volume of Real estate trading in Jordan has seen a decline of 3 percent in the first nine months of this year compared to the same period last year, totaling 5.086 billion dinars. This downturn highlights ongoing challenges within the real estate market, despite fluctuations in trading volumes in recent months.
In September, the trading volume dropped by 10 percent from the previous month, reaching 639 million dinars. However, this figure represents a 5 percent increase when compared to September of the previous year, according to the report on real estate market activities released by the Department of Lands and Survey.
The Department's revenue also experienced a slight decrease of 2 percent during the first nine months of this year, totaling JOD 193 million. In contrast, revenue increased by 24 percent last month compared to the same month in the previous year and by 2 percent compared to August, amounting to JOD 25 million.
The number of ownership transactions for non-Jordanians dropped by 8 percent in September compared to the same month last year and fell by 10 percent from the previous month. Sales of apartments decreased by 8 percent year-on-year and 3 percent month-on-month, while land sales saw a decline of 8 percent compared to last year and a significant drop of 19 percent from the previous month. The total estimated value of non-Jordanian ownership transactions for the first nine months of this year also fell by 7 percent compared to the same period last year, amounting to JOD 157 million.
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