The Saudi real estate market saw active trading last week, with 3,770 real estate transactions completed across various regions, totaling more than 3.8 billion riyals, at an average price of approximately 97 riyals per square meter.
According to data from Real Estate Exchange, there was a clear disparity in the performance of Saudi cities, with Riyadh recording a significant decline in the number of real estate transactions, with only 8 transactions totaling 7.42 million riyals, at an average price of 1,861 riyals per square meter, This decline is attributed to the shift of a large portion of notarization processes to the Real Estate Registry system instead of the Real Estate Exchange.
In contrast, Jeddah continued its strong performance and led all cities in terms of transaction volume, recording 658 transactions worth nearly 757 million riyals, at an average price of 3,233 riyals per square meter, reflecting continued momentum in the city’s real estate market.
Mecca recorded 167 transactions with a total value of 177 million riyals, at an average price of 2,649 riyals per square meter, while Medina recorded 294 transactions worth nearly 197 million riyals, with an average price of 503 riyals per square meter.
In the Eastern Province, Dammam saw 170 transactions worth 162 million riyals, at an average price of 96 riyals per square meter, while Abha recorded 120 transactions worth over 149 million riyals, with an average price of 142 riyals per square meter, reflecting a clear difference in activity levels and prices between cities.
At the neighborhood level, Al-Rawda in Jeddah topped the list of most active neighborhoods with 51 transactions, followed by the Public Housing neighborhood in Al-Rasifa, Makkah, with 37 transactions, then the Southern Housing neighborhood in Dammam with the same number, while the Al-Safa neighborhood in Jeddah came in fourth with 36 transactions, and the Al-Sha’la neighborhood in Dammam ranked fifth with 32 transactions, indicating a continued focus on vibrant neighborhoods within major cities.
