News dalla rete ITA

13 Maggio 2019

Giordania

INCENTIVES TO REVITALISE HOUSING SECTOR GO INTO EFFECT

The Department of Land and Survey (DLS) on Sunday 12 May issued a circular to all land registration departments to start implementing Cabinet decisions regarding a series of procedures to stimulate the real estate market, currently in slowdown.The Cabinet decision, which included lowering the basic price offering of real estate by 20 per cent to better align it with market value, went into effect on Sunday.On Wednesday 8 May , the Cabinet endorsed a number of procedures aimed at revitalising the real estate market, as such, fees and taxes pertaining to the sale of real estate will be mitigated due to the decrease in the estimated value of land and the increased number of out-parcelling and ownership-transfer transactions.Under the new changes, citizens will now be exempted from fees levied on ownership transfer and the consensual parcelling out of land, which would facilitate the process of transferring land ownership from the deceased to their living inheritors.The minister also pledged to fulfil all of the DLS’ needs to enable it to fulfil its duties, particularly those pertaining to delegating Treasury lands that citizens have built houses on.The director of DLS, Moeen Sayegh, expected DLS revenues to drop as a result of applying new incentives, noting, however, that the decision’s positive impacts on overall economic activities will be tangible, as the real estate sector is associated with 40 other economic sectors and sub-sectors, both directly and indirectly. (ICE AMMAN)


Fonte notizia: jordan times