Jordan has been witnessing a boom in the real estate market for the past three years where trading in 2007 was 5 Billion Jordanian Dinars compared to 4 Billion in 2006, and an expected 6 Billion in 2008. The first two months of 2008 has shown an 8% increase in real estate trading in comparison to 2007 accumulating to 879 Million Dinars. Statistics also show that in the first two months of 2007, 1527 apartments have been sold where 1708 apartments were sold in 2008 compared to the same period, equating to an 8% increase (Source: Department of Land and Survey).

Due to political and economic stability Jordan remains to be an attractive option for investors. The past years has also witnessed many foreign investments in the real estate market due to aforementioned facts and the attractive return on investment the sector has to offer. Damac with its basket of projects has had a success story, Bayan Holding with over 1 Billion Dinars worth of investments has also been operating in Jordan since 2005.

The demographic growth in the Kingdom indicates sustained demand; this growth is estimated at 2.42% (Source: The World Fact Book), thus meaning a continuous need for new housing units.

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    Market Trend

Jordanians historically tend to own their homes rather than rent. An individual would work with the main purpose of purchasing a home at some point. For many years it was considered of lower social status to live in an apartment, but with the increasing property prices Jordanians came to accept the fact of living in apartments. The following price indicators represent the current market situation for West Amman which is the most desirable area to live in the Capitol:

a. Apartments: 550-1100 J.D/Square Meter
b. Villas: 1200-1900 J.D/Square Meter

Statistics from a study done by Epsos-Jordan indicated that 70% of units sold were 170-200 square meters because of the financial restrictions above. There is great demand on independent units or villas provided that prices are within logical ranges, many young families would prefer living in a home with a garden for their siblings to play because Amman lacks parks in which they can take their children to spend time and have their social events within a private and safe area.