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Real estate trading declines by 33% to the end of August

September 6, 2020
real estate

(Petra)- Jordan's real estate trading declined by 33% since the beginning of 2020 to JD1, 870 billion, compared with the same period in 2019, according to a report issued by the Department of Lands and Survey (DLS) on Thursday.
The plunge caused a 48 per cent drop in the 8 months' revenues, which fell to JD75, 6 million, compared with the same period in 2019, showed the DLS report.
Over the first 8 months, the value of apartment fee exemptions amounted to about JD47 million, an increase of 24%, compared to the same period in 2019, according to the DLS data.
Apartment sales nationwide also dropped by 15% during the 8-month period, compared to the same period in 2019, the report showed.
On the monthly level, the report showed that the sale of real estate in the Kingdom increased during the month of August, by 14%. Apartment, land sales increased by 2%, 18%, respectively, compared to the same month in 2019.
However, revenues fell during August by 21% , compared to the same month of 2019, to reach about JD13.5 million, and the volume of trading in the Jordanian real estate market decreased by 1% to reach JD343 million.

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