real estate transactions in Saudi Arabia last week totaled more than 3,600 deals worth over 2 billion riyals, while the Al-Jala and Tabrak developments west of Riyadh topped the list of the most actively traded locations nationwide after 98 transactions totaling more than 11 million riyals were completed.
According to an analysis of data from Real Estate Exchange, the real estate market saw 3,613 transactions last week with a value exceeding 2 billion riyals, with an average sale price of 109 riyals per square meter, compared to 3,253 transactions worth over 2.1 billion riyals and an average price of 98 riyals per square meter the previous week.
Riyadh and Jeddah
The city of Riyadh continued to be absent from the Real Estate Exchange data for the third consecutive week as a result of the transfer of transaction notarization to the Real Estate Registry, while Jeddah topped the list of cities in terms of transaction value after recording 488 transactions worth 695 million riyals at an average price of 3,275 riyals per square meter, compared to 514 transactions worth approximately 870 million riyals the previous week.
Mecca
In Mecca, 133 real estate transactions were completed with a value of nearly 132 million riyals, at an average price of 2,070 riyals per square meter, compared to 128 transactions worth approximately 116 million riyals at an average of 1,694 riyals per square meter during the previous week.
Medina
Medina also recorded 203 transactions worth nearly 189 million riyals at an average price of 457 riyals per square meter, compared to 198 transactions worth about 195 million riyals at an average of 311 riyals per square meter the previous week.
Dammam
In Dammam, the number of transactions rose to 157, with a total value of 174 million riyals and an average price of 269 riyals per square meter, compared to 108 transactions totaling 109 million riyals in the previous week.
Abha
Abha recorded 63 transactions worth over 35 million riyals at an average price of 1,419 riyals per square meter, compared to 82 transactions worth approximately 56 million riyals at an average of 1,331 riyals per square meter the previous week.
Tabuk Transactions
As for Tabuk, 51 transactions were completed with a total value of approximately 19 million riyals and an average price of 8 riyals per square meter, compared to 69 transactions worth nearly 40 million riyals and an average of 118 riyals per square meter in the previous week.
Most Active Neighborhoods
In terms of the most active neighborhoods and developments, developments outside the boundaries of the Al-Jala and Tabarak neighborhoods ranked first with 98 transactions, followed by the Al-Safa neighborhood in Jeddah with 33 transactions, then Neighborhood 1156 in Al-Ghat Governorate with 32 transactions, while the Al-Rayyan neighborhood in Jeddah and the Al-Amara neighborhood in Al-Hofuf tied for fourth and fifth place with 28 transactions each.
