Iraqis top non-Jordanians’ ownership of real estate transactions in 2024

AMMAN — The number of non-Jordanian's ownership transactions increased by 10 per cent last year compared with the same period in 2023, as sales of apartments increased by 4 per cent and land by 22 per cent, compared with the last period last year, according to the monthly report of the Department of Land and Survey.

According to the report, the number of ownership transactions for non-Jordanian investors during the past year was 2803 properties, including 1643 apartments, an increase of 4 per cent, and 1160 plots of land, an increase of 22 per cent, with an estimated value of 221.8 million dinars, an increase of 10 per cent, compared with the same period of 2023, of which JD140 million, or 63 per cent, for apartments, and JD81.5 million, or 37 per cent for land.

Iraqi nationality in non-Jordanian ownership transactions during the past year ranked first with a total of 628 properties, followed by Syrian nationality with a total of 507 properties, Saudi nationality third with a total of 395 properties, followed by US nationality with a total of 177 properties, according to the data of report monitored by Al-Mamlaka TV.

In terms of value, Iraqi nationality also topped these transactions with an estimated value of JD79 million, amounting to 36 per cent of the estimated value of non-Jordanian's ownership transactions, Syrian nationality second with a value of JD27.9 million, 13 per cent.

US nationality third with a value of JD17.7 million, or 8 per cent, and Saudi nationality fourth with a value of JD15.5 million, and 7 per cent.

During the past month, the number of non-Jordanian ownership transactions increased by 43 per cent reaching to 252 properties compared with the same period of 2023, and by 5 per cent compared with November, whereas apartment sales increased by 53 per cent reaching to 155 apartments compared with their counterparts in 2023, and by 4 per cent compared with the previous month, and land sales increased by 29 per cent and 97 land plots compared with the same month of 2023, and 7 per cent compared with the previous month.

The estimated value of these transactions amounted to JD21.6 million, an increase of 47 per cent, compared with December 2023, and by 9 per cent compared with last November, of which reach JD14.4 million, or 67 per cent, for apartments, and JD7.2 million, or 33 per cent for lands.

Iraqi nationality ranked first in the number of non-Jordanian ownership transactions during the month of December with a total of 57 properties, Syrian nationality ranked second with a total of 34 properties, Saudi nationality third with a total of 31 properties, and American nationality ranked fourth with a total of 21 properties.

In terms of estimated value, Iraqi nationality ranked first with an investment volume of JD6.3 million, 30 per cent of the estimated value of non-Jordanian ownership transactions, American nationality second with a value of JD2.5 million by 12 per cent, and Syrian nationality third with an investment size of JD1.8 million, by 9 per cent. 

The volume of real estate trading in Jordan during the past year reached JD6.69 billion, a decrease of 4 per cent compared with the same period in 2023, according to the monthly report of the Department of Land and Survey.

According to the report, the trading volume in the real estate market in the Kingdom during last December amounted to JD458 million, a decrease of 9 per cent compared with the same period in 2023, and a decrease of 11 per cent compared with the previous month.