In comparison to the second half of last year, the country’s real estate market grew by 7% in the first half of this year. Real estate contracts registered with the Ministry of Justice between January and June 2024 had a total value of about 1.619 billion dinars, up 112 million dinars from the 1.507 billion dinars registered in the second half of 2023. With the exception of warehouses and exhibitions, there was a discernible fall in the majority of real estate transaction types, even in spite of the overall increase in total contract value.
Four exhibition contracts totaling 10.8 million dinars were registered in the first half of the year, and the number of warehouse contracts increased by 55.5 percent to nine from four in the previous half. Over the previous period, the total value of warehouse contracts increased to 16.811 million dinars from 8.544 million dinars. There were 1496 private property contracts totaling 689.9 million dinars, which is 54 fewer contracts than there were in the second half of the previous year.
The value of investment contracts decreased by 8% as well, from 554 contracts to 509 contracts totaling 451 million dinars. With a total value of 406 million dinars, there were 69 commercial contracts, which is an 11.5 percent decrease from the 78 contracts that were registered in the second half of the previous year. Out of 22 contracts previously, there were only 9 contracts registered totaling 9.125 million dinars, a 41 percent decrease in craft contracts. There was only one coastal strip contract worth 32 million dinars registered in the first half of this year, down from four contracts in the second half of last year. This represents a significant decrease in coastal strip contracts of a ratio of one to four.