The real estate index broke through some of the uncertainty that had prevailed for a period of time when real estate transactions in the second quarter of this year saw an increase in total transaction volume, with increases recorded in both the Makkah and Asir regions, where real estate transactions in Makkah exceeded 33.2 billion riyals, compared to 26.2 billion riyals for the same period. In Asir, transactions exceeded 1.5 billion riyals, compared to 1.4 billion riyals.

The residential sector accounted for 13.7 billion riyals of transactions in Makkah, and the commercial sector for 19.5 billion riyals, compared to 26.2 billion riyals in the first quarter of the same year. The value of real estate transactions in Asir also rose by approximately 8%; residential and commercial transactions during the second quarter totaled 1.5 billion riyals, compared to 1.4 billion riyals for residential and commercial transactions in the first quarter of the same year. Makkah led as the city with the highest real estate liquidity during the second quarter at approximately 33.2 billion riyals, followed by Riyadh with a total of 28.5 billion riyals, and the Eastern Province at approximately 11.4 billion riyals.

In Asir, despite the index’s rise during the second quarter, the market remains in a state of anticipation, which has dominated trading activity; there has been an increase in residential supply, which has become a key requirement for the coming period. This trend reflected a significant rise in sales of ready-to-move-in homes in the region, particularly owner-occupied apartments, with sales jumping from 114 million riyals in the first quarter to 166 million riyals in the second quarter.