Jordan is said to be one of the most easygoing countries in the Middle East, which is one of the top reasons to invest in real estate here. Between the location, the culture, and the economic recovery since 2008, Jordan is one of the top Middle Eastern countries to invest in.
The Economy is Doing Much Better
Compared to the crisis in 2008, the prices of rentals are increasing once again. While this may seem inconvenient to those who want to rent in the area, it’s a good sign that the local economy is doing much better. When the real estate market is doing well, it’s a great time to invest in Jordan property. If a local real estate market isn’t doing well, that’s a huge sign to turn back and not purchase any property.
When a market is bad, that means people aren’t purchasing and prices are dropping to seem more attractive. This means that the worth of the local currency is also going down. When this rises, this means that the local economy is doing well and is a great sign of a good time to invest.
During the crisis that reigned over Jordan more than 7 years ago, property prices fell more than 10%. Tax cuts in 2011 allowed property sales to increase from there. Just two years later in 2013, the decrease of more than 10% had turned into an increase of over 15%. Now that the economy is stable, investing in property in Jordan is a fantastic idea.
Rental Yields Are Great
Those investing in apartments in the Jordan area will be happy to know that as of Spring 2016, rental yields are great. While prices have been falling slowly within the last few years, the gross yield still stands between 7% and 10.7%, leaving Jordan as a great real estate investment location. However, villas have a little less of a gross yield because of the value of the land they sit on. This is due to the amount it costs to sustain a villa per square foot.
The Local Culture and Land Are Breathtaking
Investing in property is more than just crunching numbers. The location has to be perfect, too. Jordan is one of the best countries for hospitality and ancient ruins. Besides monetary reasons, the location that you invest in must have something to offer. In Jordan, there are megalithic structures scattered around with some of the best preserved ancient towns in the world.
Jordan is also home to the Aljoun region and its Abraham Path which takes you through many countries. If you’re familiar with the local religion, this trail features the birth area of Elijah the prophet. Beyond Jordan’s beautiful geography, the local culture is fantastic. The Zikra Initiative allows those in the area to go on tour to local villages to get a peek into local life.
Jordan is also one of the quieter Middle Eastern countries, with everyone being able to drive out in the open rather than in tight, horn-blaring streets.