The Residential Real Estate Transactions market in Jordan is experiencing significant growth due to various factors.
Customer preferences: Customers in the Residential Real Estate Transactions market in Jordan are increasingly looking for properties that offer a combination of affordability, quality, and location. They are seeking properties that provide a comfortable living environment, with amenities such as parks, shopping centers, and schools in close proximity. Additionally, customers are becoming more interested in sustainable and energy-efficient properties, as environmental consciousness continues to rise.
Trends in the market: One of the key trends in the Residential Real Estate Transactions market in Jordan is the increasing demand for apartments and condominiums. This trend can be attributed to several factors, including the growing urbanization of the country and the desire for a more convenient and low-maintenance lifestyle. Apartments and condominiums offer residents the opportunity to live in central locations with easy access to amenities and services. Another trend in the market is the rise of online platforms for property listings and transactions. This trend has made it easier for buyers and sellers to connect and conduct business, resulting in a more efficient and transparent market. Online platforms also provide customers with a wider range of options and the ability to compare prices and features, empowering them to make more informed decisions.
Local special circumstances: One of the local special circumstances that has contributed to the development of the Residential Real Estate Transactions market in Jordan is the influx of refugees from neighboring countries. The ongoing conflicts in the region have led to a significant increase in the number of refugees seeking shelter in Jordan. This has created a demand for affordable housing solutions, both for the refugees and the local population. The government and various organizations have been working to address this demand by implementing housing programs and initiatives.
Underlying macroeconomic factors: The development of the Residential Real Estate Transactions market in Jordan is also influenced by underlying macroeconomic factors. The country has experienced steady economic growth in recent years, which has resulted in an increase in disposable income and improved living standards. This has led to a higher demand for residential properties, as more people are able to afford homeownership or invest in real estate. Furthermore, the government has implemented policies and initiatives to promote the real estate sector, such as tax incentives for property developers and foreign investors. These measures have attracted both domestic and international investors, stimulating the growth of the market. In conclusion, the Residential Real Estate Transactions market in Jordan is growing due to customer preferences for affordable, quality properties in convenient locations. The increasing demand for apartments and condominiums, as well as the rise of online platforms for property transactions, are key trends in the market. Local special circumstances, such as the influx of refugees, have also contributed to the development of the market. Additionally, underlying macroeconomic factors, including steady economic growth and government policies, have played a significant role in driving the growth of the market.
Data coverage:
Figures are based on total and average revenue of residential real estate transactions (sales).Modeling approach:
Market size is determined by a 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 considered at a country-specific level.
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