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FINANCIAL NEWS
Jordan posts 26% surge in real estate trading in 2010
05 Jan 2011
(MENAFN) Jordan’s Department of Lands and Survey (DLS) revealed that during 2010, trading in the Kingdom’s real estate market accelerated to $8.37 billion, up from $6.64 billion, registering a 26 percent surge, year on year, Jordan Times reported.
However, despite the 26 percent increase in trading, DLS revenues fell to $336.1 million from $378.4 million registered in 2009, due to registration fee exemptions the government granted to buyers of residential apartments, in a bid to stimulate the real estate sector.
Official DLS figures showed that the number of residential apartments sold in 2010 reached 23,721 units, as opposed to 20,513 apartments in 2009, while land transactions witnessed a significant rise from 55,260 transactions in 2009 to 65,714 transactions in 2010.
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