Khaberni - Awad Al-Rahamneh, the head of the real estate offices and companies, considers that the real estate turnover since the beginning of the year has been good, compared to previous years and under the surrounding circumstances.
Speaking on the "Al-Mamlaka" channel's program, Al-Rahamneh revealed that the real estate turnover reached 4 billion and 6 million dinars since the beginning of the current year, expressing hope that the government would issue stimulating decisions in the coming months, aiming to reach a turnover of 7 billion dinars by the end of the year.
He pointed out that achieving this figure depends on additional government incentives, explaining that the stabilization of the situation in Syria and the return of its people has negatively impacted the real estate sector in the local market.
Al-Rahamneh clarified that most investments in the sector are local and not foreign, emphasizing the necessity of providing incentives such as reducing the land fees from 6% to 4.5% to help boost the market and achieve targets.
He added that recent government decisions to exempt apartments from fees have helped increase citizens' interest in buying, noting that the number of apartments sold in the capital is double that of other provinces.
He also noted that housing companies are wary of expanding their projects outside the capital, due to the varying demand and weak interest in the provinces.
Al-Rahamneh also mentioned that the rise in prices has affected the demand from expatriates, pointing out that this season for expatriates was weaker compared to previous years.
He concluded by noting that the monthly installment for an apartment priced at 70,000 dinars reaches 700 dinars, which poses an additional financial burden on buyers and negatively affects the demand in the market, indicating that banks own a huge number of apartments acquired due to their owners' inability to repay loans.
