Jordanian property sector 'stable'

Price stability continues across the Jordanian property sector, which is showing positive activity in both apartment and villa sales and leasing, according to Asteco Property Management’s Q2 2011 report.

“Despite regional political conflict, Jordan has remained consistent economically. Government statistics indicate the property sector has played a substantial role in this ongoing stability, indicating a 42 per cent increase in all property and land transactions over the quarter,' said the report.

Rental prices for two-bedroom apartments ranged from JOD3,000 ($4,231) and JOD13,000 per annum, with three-bedroom rentals ranging from JOD6,000 to JOD24,000, with an average increase of 3 per cent.

Despite relatively little Change across Jordan’s apartment rental sector, the average up shift was the result of increases in certain areas. Abdoun saw rental prices increase by 4 per cent over the quarter, led by a limited supply of buildings. The Asteco report attributed this largely to the premium location’s A+ zoning, meaning the majority of residential developments are villas with a maximum height of three-storeys.

Source: TradeArabia.com