Jordan real estate market recovers

Published January 6th, 2011 - 10:39 GMT

Trading volume in the Jordanian real estate market increased last year by 25.98% to reach 5.979 billion dinars (8.43 billion US dollars) compared to 2009. Market sources claim the rise was driven by government action to stimulate the real estate sector and improve the mortgage lending market.

The monthly report issued by the Department of Lands and Survey said that the volume of trading in 2010 amounted to 5.979 billion dinars, compared with 4.746 billion dinars in 2009.  Iraqis top the list of non-Jordanian investors in the real estate market with a total value of 203.7 million dinars, followed by the Saudis, who invested about 31.2 million dinars in 2010.

The Jordanian government issued a decision on the 20th of May 2010 to reduce fees on land and apartments. It then followed up this decision a month later with a new decision for additional reductions to stimulate the real estate market.

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