Real estate trade volume dropped by 33% in first 8 months of 2020

AMMAN — The real estate trade volume in the Kingdom dropped by 33 per cent in the first eight months of 2020 compared with the same period of 2019 to JD1.870 billion, the Department of Land and Survey announced on Thursday.

The department's revenues in the first two-thirds of 2020 declined by 48 per cent to JD75.6 million compared with the January-August period of last year, according to the department’s monthly report, cited by the Jordan News Agency, Petra.

Apartment sale exemptions went up by 24 per cent to JD47 million in the first eight months of 2020 compared with the same period of 2019.

On a monthly basis, the real estate trade volume in August alone increased by 14 per cent, where apartment sales went up by 2 per cent and land sales by 18 per cent compared with the same month of last year.

The department's revenues in August 2020 dropped by 21 per cent to JD13.5 million compared with the same month of 2019. 

Real estate trade volume during 2019 reached JD4.632 billion.

The number of real estate sales to non-Jordanian investors during 2019 stood at 3219, with an estimated value of JD236 million, marking a decrease of 17 per cent, compared with the same period in 2018.

Meanwhile, Iraqis ranked first followed by Saudis and Gazans in top real-estate purchasers in 2019.