AMMAN — Media Spokesperson for the Department of Land and Survey Talal
Al-Zaben said that the total value of exemptions by the government for the
real estate sector amounted to JD117 million in 2021, compared to JD82 million in
2020, according to Al-Mamlaka.
اضافة اعلان
Zaben
said, on Monday, that the value of apartment exemptions during 2021 increased
by 63 percent compared to 2019 to reach JD117,727,046, and JD72 million in
2019.
The
Cabinet decided at the end of 2021 to extend its decision on the exemption of
inheritance, as well as exemptions on registration fees and property sale tax
for apartments and lands until March 31.
Transferals
of inheritance will continue to be exempted from registration fees in
accordance with the provisions of Article 3b of the Exemption from Public Funds
Law No. 28 of 2006.
The
first 150m of structurally completed housing units, including apartments and
residences, shall continue to be exempted from registration fees, regardless of
the seller, the area of the residential unit, or the number of units, while the
excess space is subject to a reduced fee and tax of 50 percent. Exemptions are
limited to Jordanians only.
The
sales fee for land exemptions will continue to be reduced by 50 percent under
the Land Registration Fee Law No. 26 of 1958, and the property sale tax will be
reduced by 50 percent under the Property Sale Tax Law No. 21 of 1974.
The
decision aims to stimulate the real estate and housing market and enable people
with low income to purchase land and suitable housing.
The
Cabinet also extended its decision to exempt citizens and economic activities
from 25 percent of construction fees until December 30, 2021 to enable citizens
to pay their dues before the end of 2022.
Billions
in real-estate trading
The
volume of trading in the real estate market in Jordan during 2021 amounted to
JD5.021 billion, an increase of 8 percent compared to 2019, according to the
Department of Land and Survey.
North
Amman Land Registration Directorate came first with a trading volume of JD1.079
million, followed by Amman Land Registration Directorate in second place with JD593
million, and West Amman Land Registration Directorate in third place with
approximately JD540 million, while South Amman Land Registration Directorate
was next, with a trading volume of JD482 million.
The
proportion of the trading volume in the directorates, and registration offices
of the capital reached nearly 70 percent, with a total of JD3.516 billion.
The
volume of trading in the real estate market in Jordan during January amounted
to JD569 million, a decrease of 13 percent compared to the same month of 2019,
and an increase of 15 percent compared to December 2021.
The
movement of real estate sales in the Kingdom during 2021 increased by 32
percent, as apartment sales increased by 21 percent, and land sales increased
by 36 percent compared to 2019.
The
cabinet decided to reduce the real estate sale fee by 2 percent, and the
property sale tax by 1 percent, bringing the percentage to 6 percent, as of the
first of April 2022.
The
government also prepared a draft law amending the land registration fee and a
draft law amending the real estate sale tax law to bring the total fee and tax
to 6 percent instead of 9 percent.
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