Sales of the Jordanian real estate market declined by 29 percent year-on-year during the first nine months of this year, according to official data.
The Jordanian Land and Survey Department (government) said, Tuesday, that the value of real estate sales amounted to 2.23 billion dinars (3.14 billion dollars) during the first nine months of 2020, compared to 3.18 billion dinars (4.48 billion dollars) in the same period of 2019.
The value of government revenues from real estate sales during the period decreased by 45 percent on an annual basis, to 91.01 million dinars (128.32 million dollars), down from 164.71 million dinars (232.24 million dollars).
And during last September, sales volume increased by 4 percent compared to the same month of 2019; It is 380 million dinars (535.8 million dollars).
Also, according to the report, the total building licenses issued in the Kingdom decreased by 29.1 percent since the beginning of this year until the end of last July (latest available data), to reach 8,583 licenses, compared to 12112 licenses in the same period last year.
The real estate industry in the Kingdom has been affected for several reasons, including the decline in demand from investors from Syria and Iraq on the one hand, and the decline in local demand with economic and financial difficulties resulting from the negative consequences of the outbreak of the Corona pandemic.
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