Property for sale in Amman

The Kingdom of Jordan has been witness to an unprecedented boom in real estate, with total investment in the sector over the past five years estimated at over JD 15 billion. Trading in the sector last year reached JD 4.9 billion, comprising almost half of the Gross Domestic Product (GDP), compared to JD 3.5 billion and JD 2 billion in 2006 and 2007 respectively. This figure is expected to reach JD 6 billion this year. Get more information on property for sale in Jordan.

Views on the Amman real estate :

The Amman”s Property market was affected significantly by the political turmoil and economic boom in recent years, instigated by the September 11th terrorist attack on the United States which compelled Arabs to relocate their investments closer to home, followed by the influx of thousands of Iraqis during the second Gulf war, alongside the rising oil prices that produced an abundance of liquidity in the gulf states, inducing many capital owners to invest in Amman. The unrivalled activity in trading in real estate and property for sale in Amman, in addition to the initiatives by the government to encourage investment, and the relatively cheap Jordanian labor, drove local, Arab and foreign investors to divert their investment attention to Amman.

Real estate has a direct impact in supporting the growth of other economic sectors, particularly the construction sector, which has a spill-over effect to other areas of the economy, creating job opportunities and generating demand for other supporting industries, such as steel, cement, wood, glass, aluminum, to name a few.

It also has a bearing on the financial services sector, with opportunities arising for banks to offer financing to real estate companies and contractors, in addition to providing retail facilities in the form of mortgages for the purchase of land and property for sale.

Unsurprisingly, there has also been a distinct correlation between the real estate market and the capital markets, due to the large number of real estate companies that are listed on the stock exchange. In 2006, the volume traded on real estate sector companies represented over 30% of the Amman Stock Exchange’s total trading activity.