Hafez The Saudi real estate market remained stable over the past week, with limited changes in the number of real estate transactions and their total value compared to the previous week, while the average sale price per square meter rose by approximately 11%.
According to the weekly monitoring of data from the Real Estate Exchange, 3,253 real estate transactions were completed with a total value exceeding 2.1 billion riyals, with an average selling price of 98 riyals per square meter, compared to 3,361 transactions with roughly the same total value during the previous week, when the average selling price was 88 riyals per square meter.
The city of Riyadh saw a continued absence of transaction data for the second consecutive week, as a result of the transfer of the notarization of most real estate transactions to the Real Estate Registry, which was reflected in the Real Estate Exchange data for the capital.
Jeddah Leads Real Estate Activity
In contrast, Jeddah continued to lead in real estate activity, recording 514 transactions worth nearly 870 million riyals, with an average selling price of 714 riyals per square meter. The city had recorded 588 transactions the previous week, with a total value exceeding 769 million riyals and an average price of 3,058 riyals per square meter.
Mecca
saw 128 transactions worth approximately 116 million riyals, with an average price of 1,694 riyals per square meter, compared to 137 transactions worth about 100 million riyals at an average price of 1,784 riyals per square meter the previous week.
Medina
The total value of transactions rose despite a limited increase in the number of transactions, with 198 transactions totaling nearly 195 million riyals, while the average selling price was 311 riyals per square meter, compared to 180 transactions worth 109 million riyals and an average of 394 riyals per square meter during the previous week.
Dammam
A total of 108 transactions were recorded, worth 109 million riyals, with the average selling price rising to 1,839 riyals per square meter, compared to 150 transactions worth 139 million riyals and an average price of 896 riyals per square meter the previous week.
Abha
Real estate activity rose significantly there, with 82 transactions totaling approximately 56 million riyals, while the average sale price reached 1,331 riyals per square meter, compared to only 45 transactions worth 21 million riyals and an average of 1,010 riyals per square meter during the previous week.
Tabuk
recorded 69 transactions worth approximately 40 million riyals, while the average sale price was 118 riyals per square meter, compared to 67 transactions worth about 39 million riyals and an average price of 1,424 riyals per square meter in the previous week.
Most Active Neighborhoods
Among the most active neighborhoods, Al-Safa in Jeddah and Al-Salmaniyah in Hafar Al-Batin topped the list with 28 transactions each, followed by Al-Suwaidra in Madinah with 27 transactions, then Al-Nuzha in Jeddah with 25 transactions, while Al-Marwah in Jeddah came in fifth place after recording 23 transactions during the week.
