Khaberni - Workers in the real estate sector agree that the 8% decline in real estate trading volume is due to the Iranian-Israeli war last summer.
The real estate trading volume in Jordan declined by 8% during the first ten months of this year, registering 4.84 billion dinars compared to 5.23 billion dinars recorded in the same period last year, according to Al-Ra'i.
According to data from the Land and Survey Department, which "Al-Mamlaka" reviewed, the number of partition transactions during the first 10 months of the current year fell to 6,485 transactions, compared to 8,272 transactions recorded in the same period of 2024.
Conversely, the number of common property removal transactions increased to 1,972 thousand transactions compared to 1,644 thousand transactions in 10 months of 2024.
In addition, the number of male and female ownership applications from the beginning of the year until the beginning of October this year increased to 592,676 thousand applications compared to 515,029 thousand applications in the same period of 2024.
Investor in the housing sector, Engineer Suleiman Al-Dawood, confirmed that the decline in trading volume in the real estate sector is due to the Iranian-Israeli war, which negatively reflected on the real estate sector.
Al-Dawood pointed out other reasons that affected the decline in real estate trading volume, including decreased purchasing power among citizens.
He indicated that the demand for residential apartments is still experiencing a noticeable decline during the current period.
Investor in the housing sector, Engineer Munther Al-Kilani agreed with Al-Dawood's view that the decline in trading volume in the real estate sector is due to the Iranian-Israeli war
Al-Kilani explained that the Iranian-Israeli war occurred during the summer, coinciding with the return of expatriates working abroad, noting that the housing sector largely depends on expatriates working abroad.
