Jordan property sector stable: report

Jordan’s property sector showed steady performance, with minor price increases in residential sales amid the political unrest that has slowed the property market, according to Asteco’s Q1 Jordan report. The report noted continuing demand for small-and medium-sized apartments, partly due to restricted land supply in prime locations and reduced housing budgets, impacting larger units or villas.

Most active areas were seen east of the capital of Amman, with affordable housing for low-to middle-income earners showing reasonable activity in both sales and leasing transactions. “The Jordanian government moved swiftly in adopting policy changes to protect various areas of the economy, including real estate, as political unrest impacted some countries of the Middle East. As a result, of these changes, which included limitations on price increases and the waiving of transfer fees, Jordan’s property market has shown little sign of slowing,” said Elaine Jones, CEO, Asteco Property Management.