Ammon News - *Iraqi nationality ranks first in sales to non-Jordanians

*Trading volume in the Jordanian real estate market reached JD1.083 billion in two months

* Real estate sales activity in Jordan declined by 4% during the first two months of 2024

Ammon News- Ahmad Alhyari- Land sales by non-Jordanians increased last February by an unprecedented rate, reaching 104% compared to the same month in 2023, according to a report by the Department of Lands and Survey (DLS).

The report, a copy of which was received by Ammon, indicated an increase in land and department sales by non-Jordanians during February 2024 by 32% compared to February 2024.

While apartment sales by non-Jordanians declined in February 2024 by 2% compared to the same period in 2023.

The estimated value of sales by non-Jordanians during February 2024 decreased by 4% compared to the same month last year, to reach JD17.321 million.

In the first two months of 2024, the number of sales by non-Jordanians increased by 2%, as apartment sales decreased by 16% and land sales increased by 38% compared to the same period in 2023.

The estimated value of sales by non-Jordanians since the beginning of 2024 until the end of February decreased by 7% to reach JD31.663 million.

The number of real estate sales to non-Jordanian investors during the first two months of 2024 reached about 454 properties, an increase of 2% compared to the same period in 2023, including 251 apartments and 203 plots of land.

In the sales of the first two months, Iraqi nationality ranked first with a total of 104 properties, followed by Syrian nationality with a total of 99 properties, and then Saudi nationality ranked third with a total of 69 properties.

In terms of value, Iraqi nationality came in first place with an estimated value of JD14,261 million, representing 45% of the estimated value of non-Jordanian sales, Syrian nationality ranked second with 17% of the estimated value of non-Jordanian sales, and American nationality ranked third with 6%, followed by Saudi nationality in fourth place with a rate of 3% of the estimated value of sales to non-Jordanians.

During the first two months of 2024, the trading volume in the real estate market in the Kingdom amounted to approximately JD1.083 billion, while last February it reached JD582.788 million, an increase of 17% compared to January 2024.

Real estate sales activity in Jordan declined during January 2024 by 4%, as apartment sales decreased by 1%, and land sales decreased by 4% compared to the same period in 2023.

The value of revenues during January and February 2024 increased by 1%, compared to the same period last year, to reach JD43.6 million, while the value for February increased by 18% compared to February 2023, and by 3% compared to the previous month, to reach JD22 million.