Total Area: 89,342 km²
GDP (in million USD): 27,129
Jordan, officially the Hashemite Kingdom of Jordan, is an Arab kingdom in the Middle East, on the East Bank of the River Jordan, and extending into the historic region of Palestine.
In the first quarter of 2011, the average price of apartments in Jordan rose by 3% to JOD950 (US$1,335) per square meter (sq. m), according to Asteco. The total number of apartments sold rose by 29% to 1,872 units in February 2011, according to the Department of Land Survey (DLS), with land transactions also soaring up 39%. In addition, the total value of property transactions increased 28% to JOD430 million (US$604.3 million) in February 2011. This is a second year of big rises in numbers of apartment sold.
Jordan's property market is expected to continue its strong performance as the government tends to introduce new financial packages intended to attract foreign investors. The total value of inbound real estate transactions is expected to exceed JD6 billion (US$8.4 billion) by end-2011, close to figures seen during the boom of 2006 and 2007.
Foreigners can buy housing and land in Jordan, but must not sell within five years. In the past, permission procedures were lengthy, but now approval can be obtained in just 10 days.