Real estate sales in Jordan increased by 37% during first quarter

The volume of real estate sales in the Jordanian market during the first quarter of this year increased by 37 per cent compared to the same period last year, to 1.41 billion dinars ($1.9 billion).

According to a statement released today by the Department of Land and Survey, government revenues from real estate sales amounted to 63.1 million dinars ($88.9 million), an increase of 48 per cent compared to 2019.

The figures for  2020 are not included in the comparison period due to the consequences that the coronavirus pandemic had on real estate sales in the country.

The statement indicated that the estimated value of real estate sales to non-Jordanians during the first quarter of the year increased by 58 per cent to 76.5 million dinars ($107.8 million).

Last month the government reduced property sales fees by two per cent and property sales tax by one per cent, setting the total taxes payable at six per cent from this month, in an effort to revive the housing market.

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