As the global recession continues to affect many countries. Jordan will be seen as a safe haven as compared to it's counterparts its real estate is relatively cheap. Many of the projects are not even finished. Once the first residential tower finishes, many people will start scrabbling to buy one of these apartments.When every thing is going bad, people tend to look at the negative. Jordan has many differences in comparison to Dubai and the U.S. in it's real estate boom. There are a couple of reasons that differnentiates Jordan, for one most of Jordan's real estate boom was created by demand. There was an influx of people from Iraq and many expatriates started moving back to Jordan. In addition the majority of the purchases were not financed and most financing in Jordan requires a minimum of 20% down. The lack of easy credit slows the growth but makes the growth more stable.The main cause for the Jordanian Real Estate sector is not supply and demand but the decrease in commodity costs. Many builders were buying there metals and stone for their buildings at 3 times the current price. As prices dropped new builders could price their apartments or buildings allot less than anyone else who built prior. Once these builders reduce their prices and sell the inventory that is over priced the demand will start to pick up again. I look another boom in early 2010 for the real estate sector in Amman.
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