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Real estate sale volume in Jordan increases by 34%in 2021

Sales of apartments increased by 19% and land sales rose by 39% compared to the same period in 2019

According to the Department of Land and Survey, the real estate market sales volume in the Kingdom of Saudi Arabia increased by 34 percent in the first four months of 2021. Sales of apartments increased by 19 percent and land sales rose by 39 percent compared to the same period in 2019.

The department’s monthly report stated that in Jordan, the value of apartment exemptions in the first third of 2021, increased by 68 percent compared to 2019 to JD32.4 million. The report has made comparisons between 2021 and 2019. It is because the workdays of April 2020 were incomplete owing to the lockdown due to the spread of Covid-19.

However, the real estate trade volume in the first four months of 2021 dropped by nine percent compared to 2019 and amounted to JD1.34 million. The trade volume in April 2021 stooped down by 21 percent with the same comparison to JD311 million.

The revenue values in January to April 2021 saw a decline of 28 percent to JD55.26 million than in 2019. The April revenues of 2021 alone decreased by 39 percent compared to 2019 and by 12 percent compared to March 2021 to JD12.65 million. The estimated value of sales for non-residents of Jordan in April 2021 decreased by 44 percent compared to 2019. It reduced by 23 percent to that of March 2021 to JD13.7 million.

Similarly, the Kingdom of Saudi Arabia’s market started showing signs of recovery post-Covid-19. Its mortgage activity increased by 38 percent in the 12 months to February 2021. The decision to exempt real estate transactions from 15 percent VAT has boosted activities in the residential market.

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