Key regions: United States, China, Japan, Germany, United Kingdom
The Real Estate market in Jordan has been experiencing significant growth and development in recent years.
Customer preferences: Customers in Jordan are increasingly looking for affordable housing options that offer modern amenities and convenient locations. There is a growing demand for apartments and villas that provide a comfortable living environment with access to facilities such as parks, schools, and shopping centers. Additionally, there is a trend towards sustainable and energy-efficient buildings, as customers are becoming more conscious of the environmental impact of their homes.
Trends in the market: One of the key trends in the Jordanian Real Estate market is the rise of mixed-use developments. These projects combine residential, commercial, and retail spaces in a single complex, creating a vibrant and self-contained community. This trend is driven by the desire for convenience and the need for diverse amenities within close proximity. Mixed-use developments also offer opportunities for investors, as they can generate multiple streams of income from different types of properties. Another trend in the market is the increasing popularity of real estate investment among Jordanians. Many individuals are investing in properties as a means of generating passive income and securing their financial future. This trend is supported by the relatively low interest rates and the stability of the Jordanian economy. Real estate investment is seen as a safe and profitable option, especially in comparison to other investment opportunities.
Local special circumstances: The Real Estate market in Jordan is influenced by several local special circumstances. One of these is the influx of refugees from neighboring countries, such as Syria and Iraq. This has created a demand for affordable housing and has led to the development of new residential projects to accommodate the growing population. The government has also implemented policies to attract foreign investors, including offering incentives and simplifying the process of buying property.
Underlying macroeconomic factors: The growth and development of the Real Estate market in Jordan can be attributed to several underlying macroeconomic factors. The stability of the Jordanian economy, coupled with the relatively low interest rates, has made it an attractive destination for both local and foreign investors. The government has also implemented measures to support the Real Estate sector, including the establishment of the Real Estate Development Fund, which provides financing and support to developers. In conclusion, the Real Estate market in Jordan is experiencing significant growth and development, driven by customer preferences for affordable housing with modern amenities and convenient locations. The rise of mixed-use developments and the increasing popularity of real estate investment are key trends in the market. Local special circumstances, such as the influx of refugees and government policies to attract foreign investors, also play a role in shaping the market. The stability of the Jordanian economy and the low interest rates are underlying macroeconomic factors that contribute to the growth of the Real Estate sector.
Data coverage:
Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.Modeling approach / Market size:
Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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