Apartments demand declines by 7% since beginning of 2024

10-02-2024 10:50 AM

Ammon News -

*Apartments with an area (larger than 150 square meters) are most in demand on the market

Ammon news -Ahmad Alhyari- The demand for residential apartments of various sizes decreased in January 2024 by 7%, bringing the number of apartment sales transaction in January 2024 to about 2,718 thousand apartments, compared to 2,918 thousand apartments in January 2023, according to a report by the Department of Land and Survey (DLS).

Apartment sales were primarily centered in Amman, totaling 1,768 thousand apartments in January 2024. This marked a 5% decrease compared to January 2023. In other parts of the Kingdom, apartment sales transactions totaled 940, showing an 11% decline.

Demand for medium-sized apartments (120-150 square metres) dropped by 12% in January 2024, resulting in a total of 754 apartments, while the demand for small apartments (under 120 square meters) decreased by 7%, totaling 854 apartments.

Despite a 3% decrease in demand for large-sized apartments (larger than 150 square meters), they are the most in demand compared to the smaller spaces in the real estate market during January-2024, compared to the same month in 2023.

It's noteworthy that the demand for land in Jordan experienced an 8% decrease in January 2024 compared to the corresponding month in 2023.

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