Tuesday, 7 October 2008

Jordanian real estate

The Jordanian real estate sector has been the the driver of Jordanian economy. Indeed, the construction sector accounts for 4.4 % of the GDP. The majority of the activity is occuring in Amman, which accounted for 39.6 % of total building.

The bad news is that it the real estate market is now slowing dramatically. Numbers for 2008 are negative. In 2007, the value of real estate transactions only grew by 7.7 %; this compares to steeper growth rates of 48.6 %, 75.0 % and 53.8 % recorded in the years 2006, 2005 and 2004, respectively.

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