Why Do They Keep Building So Many Apartments?!

Kip98 Contributor

Member since 08 March 2015

Kip98Contributor02 August 2016 09:38:00

162

Is it just me or are they building way too many apartment buildings here? There are so many vacant, for sale, etc apartments everywhere and yet they just keep on building and building and building more. I realize that real estate prices have gone up drastically in recent years, but looking around at all the vacant apartments and ongoing construction combined with rampant unemployment, low wages, and everything else going on, I feel like the bottom is going to fall out sometime soon? Is there still that much demand?

Please note - I'm half just venting about this due to the fact its 900 degrees in my aparent today and they are building another huge building about 10 feet from my apartment and I have to listen to it 7 days a week starting at 6:30 am and can't even open my windows for air. I'm losing my mind I think......

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Primadonna Jordan Expert

Member since 03 August 2012

Jordan & Netherlands Expert

PrimadonnaJordan Expert02 August 2016 17:51:36

5333

Oh dear.... I feel you.

According to my knowledge there's still a demand for it as many Jordanians working abroad and make good money. They can finally buy a better home for their families.
But I agree with you : it seems no end to it.

MysteriousM Active member

Member since 02 May 2013

MysteriousMActive member22 August 2016 14:50:49

you need to consider how banks started to make it a very easy process, so the bank will pay for the apartment.

most consider this as the best way instead of paying rent, so you will keep paying monthly but eventually the apartment is yours.

Kip98 Contributor

Member since 08 March 2015

Kip98Contributor23 August 2016 06:12:21

162

I realize that but it seems a high percentage of them are empty and sitting for sale forever or they have been bought by people who live out of the country and put them for rent (and are still empty). In my building there are 9 apartments and 7 are empty.

Nabudayye Member

Member since 06 July 2012

NabudayyeMember25 August 2016 09:33:33

perhaps waiting for the next war and a new wave of immigrants and the next wave of international aid workers, military experts, reporters/intelligence officers;...etc,
any idea where the next wave will come from? South China Sea area?