Gazans join Iraqis, Saudis in ranks of top real-estate purchasers

AMMAN — Trade in the real estate sector in the Kingdom during the first nine months of 2019 totalled JD3.183 billion, marking a 19-per cent decrease compared to the same period in 2018, according to Department of Statistics (DoS) figures. 

In September of this year, the trade rate in the real estate market totalled JD394 million, with a 10-per cent decrease compared to September last year, according to the statistics. 

The first nine months of this year saw the highest real estate sales for Iraqis, who ranked first with the total purchases of 511 properties, followed by the Saudis, who purchased 491 properties and the third rank went to Gazans at 387 purchases. 

The Jordan Housing Developers Association (JHDA) President Zuhair Omari told The Jordan Times on Thursday that Iraqi nationals have been the top real estate purchasers since 2003, followed by Saudi nationals. 

“However, the new part is the third rank for the Gazans, which is directly related to the government’s decision to allow Gazans to buy real estate, which now seems to have paid off,” Omari said.

He added that even though the number of properties purchased by Iraqis and Saudis and their values are less than in previous years, the rankings remain the same nonetheless. 

In September this year, DoS data showed that Iraqis purchased a total of 81 properties, Saudis purchased 66 and Gazans bought 62. 

In regard to value, Iraqis also ranked first at an investment rate of JD7.34 million, 38 per cent of the total estimated value of non-Jordanian real estate purchases in the Kingdom. 

Gazans’ investment rate stood at JD2.84 million, or 15 per cent, and Saudis ranked third in regards to value, at an investment rate of around JD2.67 million, amounting to 14 per cent of the total non-Jordanian real estate purchases.

In the first nine months of the year, the revenues of the Department of Land and Survey amounted to JD164.71 million, showing a decrease of 18 per cent compared to the same period in 2018, according to the DoS figures.