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Jordan apartment prices rise on land values, high fees
- Jordan: Tuesday, October 09 - 2012 at 03:54
Jordan's Housing Investors Society (HIS) has said rising land values in the capital city, Amman, as well as government policies are driving up the prices of residential properties, Jordan Times has reported. The government's decision early this year to freeze incentives for buyers of medium-sized apartments has pushed up the cost of purchasing residential properties, said Kamal Awamleh, president of the HIS, adding that taxes and customs fees on imported construction materials are also to blame. Currently, buyers of apartments sized 150 sq m or less do not pay registration fees for the first 120 sq m. "Buying an apartment has become harder for the majority of Jordanians because of expensive prices and authorities should be aware of that," Awamleh noted, warning of a wave of illegal housing construction in the capital if rising prices continue.
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