Amman: Sales of apartments larger than 150 square meters (SM) saw a significant increase of 24% this April compared to the same month last year. This growth is attributed to a decision by the Cabinet to exempt residential properties larger than 150SM from a 50% registration fee, announced on November 12.
According to Jordan News Agency, the Department of Lands and Survey (DLS) reported that a total of 969 targeted properties were sold this month. This figure is part of the 5,755 overall apartments exceeding 150SM sold since the exemption decision was implemented. The DLS stated that the decision has successfully stimulated and strengthened the Kingdom’s real estate market, which plays a crucial role in driving multiple production and service sectors, thereby alleviating the financial burden on citizens.
The department also highlighted its ongoing efforts to update and develop its operations in alignment with international practices. The DLS is currently implementing plans and strategies to enhance the investment environment in the Kingdom’s real estate sector, which is considered a fundamental pillar of the national economy, influencing various related sectors.