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Jordan’s real estate deals decline 10 per cent in July

Revenues of property sales declined by 13 per cent, while non-Jordanians’ sales decreased by 27 per cent

Real estate trading volume in Jordan’s domestic market fell by ten per cent by the end of July 2015, reaching JOD3.893 billion compared with JOD4.326bn in the same period of 2014.

The Department of Lands and Survey says in its report that the revenues of property sales declined by 13 per cent to JOD207m, compared with JOD236m for the same period of last year, reports Jordan News Agency, Petra.

The report shows that the value of revenues and exemptions have fallen by the end of July 2015 by ten per cent to JOD254m, compared with JOD283m for the same period in 2014.

The report adds that the estimated value of the non-Jordanians’ sales decreased in the first seven months of this year by 27 per cent to JOD214m, compared with JOD291m for the same period in 2014.

It is noteworthy that the cabinet of ministers adopted a package of incentives to stimulate the real estate sector, including exempting the first 150 square metres of apartments sized 180sq m or less from registration fees.

(JOD1 = AED5.18, at the time of publishing)