Demands to extend exemptions on apartments and land registration fees

(Photo: Jordan News)
AMMAN — President of the General Association of Real Estate Agents Mohamed Nour Taha called on the government to extend exemptions on real estate registration until the end of the year, pending the completion of the proposal to amend the pertinent law, according to Al-Mamlaka TV.اضافة اعلان

Taha suggested reducing the registration fee to 4 percent instead of the government's proposed 6 percent, which would positively impact the investment climate in the sector. He said that the decision would facilitate, encourage and revitalize the real estate market, which would reflect positively on the economy and enable all segments of society to own property.

Taha explained that the continued exemption of the first 150 meters of structurally completed housing units, including apartments and houses, from registration fees regardless of the seller, and limiting the exemption to Jordanians only would increase the chances of Jordanians’ ability to own housing.

He said that the continued reduction of sales fees by 50 percent under the Land Registration Fee Law No. 26 of 1958, and the reduction of the property sales tax by 50 percent under the Real Estate Sales Tax Law No. (21) Of 1974 reflects positively on investors and expatriates who wish to buy property in the Kingdom.

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