Jeddah maintained its strong presence in the real estate market last week, recording 426 real estate transactions worth over 565 million riyals, topping the list of cities included in the data from the Real Estate Exchange in terms of transaction value, despite a decline in the number of deals and the total value of transactions compared to the previous week. The average selling price per square meter in Jeddah was approximately 2,935 riyals, compared to 3,042 riyals the previous week, when the city recorded 464 transactions worth approximately 610 million riyals.
Total real estate transactions last week
In the real estate market, last week saw 3,276 transactions worth over 1.7 billion riyals, with an average selling price of 84 riyals per square meter, compared to 3,428 transactions worth over 2 billion riyals, with an average of 81 riyals per square meter, the week before last.
Transactions in Riyadh continue to be absent from the real estate exchange, as the documentation of transactions in most neighborhoods of the capital has been transferred to the Real Estate Registry.
In Makkah, the number of real estate transactions rose to 175 transactions worth approximately 110 million riyals, at an average price of 1,453 riyals per square meter, compared to 137 transactions worth 165 million riyals and an average of 2,867 riyals per square meter the previous week.
As for Medina, it recorded 184 transactions worth approximately 117 million riyals, at an average price of 1,101 riyals per square meter, compared to 198 transactions worth approximately 155 million riyals in the previous week.
In Dammam, transactions totaled 139 deals worth 158 million riyals, at an average price of 890 riyals per square meter, compared to 135 deals worth over 98 million riyals and an average of 217 riyals per square meter the previous week.
Abha Sees Increase in Real Estate Activity
Abha recorded 85 transactions worth nearly 57 million riyals, at an average price of 1,404 riyals per square meter, compared to 62 transactions worth over 50 million riyals the week before last. In contrast, the number of transactions in Tabuk fell to 66, with a total value exceeding 36 million riyals and an average price of 159 riyals per square meter, compared to 83 transactions worth 43 million riyals the previous week.At the neighborhood level, the Public Housing neighborhood in Al-Rasifa, Mecca, topped the list of neighborhoods with the most transactions at 46, followed by Al-Sharafiyah in Taif and Al-Ghadeer in Sultan City, Abha, with 39 transactions each.
The Al-Nakheel neighborhood in Al-Dulimiyah ranked fourth with 29 transactions, while the Al-Sha’la neighborhood in Dammam ranked fifth with 26 transactions.
