2023 Jordan summer housing demand dropped 25% due to higher interest rates, slowing down land developer sales.

Local housing demand in Jordan's summer season has dropped 25% compared to 2023, primarily due to higher interest rates. This decline in demand has resulted in slower sales for land developers, despite summer typically being a peak period for the industry. The trading volume in the local real estate market reached JD6,961 billion in 2023, as reported by the Department of Land and Survey.