Jordan’s real estate trading falls 11%

AMMAN — Real estate trading during the first six months of 2015 amounted to JD3.42 billion, 11 per cent lower than the JD3.84 billion recorded during the same period of 2014.

In June alone, real estate trading dropped by 18 per cent to JD595 million from JD727 million in June 2014, according to report issued by the Department of Lands and Survey (DLS) on Sunday.

As a result of the decline, “revenues during the January-June 2015 declined by 13 per cent to JD182.7 million from JD209.7 million collected in the same period of the previous year.”

The report showed that the value of both revenues and exemptions also went down by 11 per cent at the end of the first half of the year, standing at JD223.2 million, compared with JD251 million.

Similarly, the department’s revenues in June dropped by 20 per cent to JD31 million, compared with JD40 million the department collected in June 2014.

In June, the value of revenues and exemptions stood at JD38.2 million, 18 per cent lower than the JD46.7 million for the same month the year before, the report showed. 

According to the DLS, the estimated value of non-Jordanian purchases in the first six months of 2015 fell by 30 per cent to JD185.1 million, compared with JD265.3 million in the same period of the previous year.