Property Investors Have Confidence in Jordan

The latest figures show that property transactions are down in Jordan however the number of overseas property investors is actually rising.

In the first eight months of 2009, the total value of property deals in Jordan was down a massive 38 percent compared to the period in 2008 according to figures from the Department of Land and Survey.

The downturn is largely due to the unstable nature of the global economy which has made many property investors think twice about investing their money into more real estate.

Despite the trend, foreign purchasers appear to have confidence in the Jordan property market and real estate assets rose 22 percent against 2008. Top non-Jordanian property investors are the Iraqis, who purchased 79.7 million dinars worth of property, and Americans who bought 17 million dinars worth of Jordan property.

Unsurprisingly, the amount of income the government made from property has also fallen by 38 percent to 174.2 million dinars.

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