The city of Jeddah took center stage in the real estate market last week, recording 503 transactions worth nearly 593 million riyals, along with a significant jump in the average selling price per square meter, which rose to 3,427 riyals compared to 1,770 riyals the previous week.
According to data from Real Estate Exchange, the average price per square meter in Jeddah rose by approximately 94% over the course of a week, despite a slight decline in the number of real estate transactions slightly from 519 to 503, while the total value of transactions increased from more than 514 million riyals to about 593 million riyals.

Jeddah
Jeddah’s performance comes at a time when the Saudi real estate market has seen a decline in overall activity, as the number of transactions completed nationwide fell to 2,999 last week, compared to 3,577 the previous week, a decrease of 16%.
The total value of transactions also fell to approximately 1.7 billion riyals, compared to approximately 2 billion riyals, while the average market sale price rose to 103 riyals per square meter, compared to 83 riyals per square meter the previous week, an increase of 24%.

Mecca
In Mecca, the number of transactions fell to 113 last week, compared to 157 the previous week, while the value of transactions rose to 109 million riyals, compared to 107 million riyals. The average price per square meter in the city also rose to 2,143 riyals, compared to 1,726 riyals the previous week.

Medina
Medina recorded 167 transactions worth nearly 127 million riyals, at an average price of 265 riyals per square meter, compared to 207 transactions worth over 136 million riyals, at an average price of 1,201 riyals per square meter the previous week.

Dammam
In Dammam, the number of transactions fell to 101, with a value exceeding 95 million riyals and an average price of 2,050 riyals per square meter, compared to 135 transactions worth over 172 million riyals and an average price of 81 riyals per square meter the previous week.

Abha
As for Abha, the number of transactions rose to 73, with a total value of approximately 53 million riyals, compared to 61 transactions worth 56 million riyals the previous week, while the average price per square meter fell from 1,725 riyals to 1,075 riyals.

Tabuk
In Tabuk, the number of transactions fell to 40, with a value of approximately 19.4 million riyals and an average price of 1,331 riyals per square meter, compared to 64 transactions worth 37 million riyals and an average price of 462 riyals per square meter the previous week.
Last week’s data did not include transactions in Riyadh, as the documentation of transactions in most of the capital’s neighborhoods has been transferred to the Real Estate Registry, resulting in the city’s transactions being excluded from the weekly report.

Most Active Neighborhoods
At the neighborhood level, Al-Safa in Jeddah topped the list of the Kingdom’s most active neighborhoods for the week, recording 38 transactions, followed by Al-Rawabi in Jizan with 32 transactions.
The Al-Nuzha neighborhood in Jeddah came in third with 29 transactions, while the Al-Andalus neighborhood in Al-Muznib ranked fourth with 26 transactions, followed by the Al-Fayha neighborhood in Jeddah with 22 transactions.