Residential Real Estate - Jordan | Statista Market Forecast

The Residential Real Estate market market in Jordan is expected to reach a value of US$574.90bn by 2024.
The market is projected to experience a compound annual growth rate (CAGR 2024-2029) of 5.72%, leading to a market volume of US$759.30bn by 2029.
When compared globally, China is anticipated to generate the highest value in the Real Estate market, with an estimated worth of US$112.9tn by 2024.
Despite recent economic challenges, the residential real estate market in Jordan is experiencing steady growth due to increased foreign investment.

Definition:

The residential real estate market covers the leases and transactions of residential properties. Residential real estate leases refer to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums, while residential real can be defined as buying, selling, or transfer of ownership of residential properties.

Structure:

The residential real estate market covers real estate transactions and leases, and the section, residential real estate leases, is divided into apartment and house leases.

Additional information:

The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and for real estate renters as well.

Residential real estate transactions
Residential real estate leases

Real estate agencies
Construction companies
Accommodation services, such as Airbnb
Commercial real estate leases and transactions
Publicly owned buildings used by the local government
Buildings used for public health care services

The Residential Real Estate market in Jordan is experiencing significant developments and trends. Customer preferences are shifting towards more modern and sustainable housing options, while local special circumstances and underlying macroeconomic factors are also influencing the market. Customer preferences in the Residential Real Estate market in Jordan are evolving. There is a growing demand for modern and sustainable housing options, with buyers increasingly looking for properties that are energy-efficient and environmentally friendly. This trend is driven by a global awareness of the importance of sustainability and a desire to reduce carbon footprints. Additionally, customers are seeking properties with modern amenities and facilities, such as smart home technology and recreational spaces. These preferences reflect a desire for convenience and a higher quality of life. Trends in the market indicate a shift towards mixed-use developments and urban regeneration projects. Developers are focusing on creating integrated communities that combine residential, commercial, and recreational spaces. This trend is driven by the need to optimize land use and create vibrant neighborhoods that offer a range of amenities within walking distance. Mixed-use developments also cater to the changing lifestyles and preferences of residents, who are seeking convenience and a sense of community. Local special circumstances play a role in shaping the Residential Real Estate market in Jordan. The country has a young population, with a significant proportion of the population under the age of 30. This demographic trend influences the demand for housing, as young adults seek affordable and accessible options. Additionally, Jordan has a large expatriate population, particularly in urban areas. These expatriates often have specific housing needs and preferences, such as proximity to international schools and amenities. Underlying macroeconomic factors also impact the Residential Real Estate market in Jordan. The country has experienced economic growth in recent years, which has led to an increase in disposable income and improved affordability for homebuyers. Additionally, the government has implemented policies to support the real estate sector, such as tax incentives and streamlined regulations. These factors contribute to a favorable investment climate and attract both domestic and international investors to the market. In conclusion, the Residential Real Estate market in Jordan is developing in response to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The demand for modern and sustainable housing options, mixed-use developments, and integrated communities is shaping the market. The young population and expatriate community in Jordan also influence the demand for housing. Overall, the market is supported by favorable macroeconomic conditions and government policies that promote investment in the real estate sector.

Data coverage:

Figures are based on total and average value of residential real estate, residential estate transactions and leases.

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market, for instance, 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:

Data is modeled using current exchange rates. 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.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

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Residential Real Estate - Jordan

Value

Volume

Analyst Opinion

Transaction Value

Revenue

Household Type

Living Space

Methodology

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