Real estate trade volume dropped by 26% in 2020 — survey department

AMMAN — The real estate trade volume in the Kingdom dropped by 26 per cent in 2020 compared with 2019 to reach JD3.418 billion, the Department of Land and Survey announced on Tuesday.

The department's revenues in 2020 declined by 39 per cent to JD140.2 million compared with the year before, according to the department’s monthly report, cited by the Jordan News Agency, Petra.

Apartment sale exemptions went up by 15 per cent to JD83 million in 2020 compared with 2019.

The real estate purchases in the Kingdom in 2020 dropped by 9 per cent, where apartment sales went down by 14 per cent and land sales declined by 7 per cent when compared with purchases in 2019, the department said.

On a monthly basis, the real estate trade volume in December alone decreased by 8 per cent, where apartment sales went down by 15 per cent and land sales by 6 per cent compared with the same month of 2019.

The department's revenues in December 2020 dropped by 16 per cent to JD24.4 million compared with the same month of 2019, while the real estate trade volume in December 2020 went down by 16 per cent to JD548 million.