The value of real estate transactions that took place during last Ramadan decreased by 24% from the same month last year, reaching about 17.7 billion riyals.

This was revealed in a report issued by the Ministry of Justice. Residential deals topped the real estate deals for the month of Ramadan with a value of 10.3 billion riyals, a decrease of 27 %, while the value of commercial deals amounted to 7.4 billion riyals, a decrease of 18 %.While real estate deals in the last nine months of the current year 1437 AH decreased by 23 %, reaching 230.5 billion riyals, compared to last year in the same period, estimated at 301.3 billion riyals.The Riyadh witnessed the highest total deals worth 2.662 billion riyals, and Jeddah ranked second with a value of 1.317 billion riyals, a decrease of about 47 % in the same month of last year, while real estate deals made on land plots acquired the largest share during Ramadan, amounting to 15.3 billion riyals, with a value of about 87 % of the total value, followed by agricultural land deals with a value of 866.5 million riyals. While the value of commercial real estate deals in Riyadh, which is the leader in terms of commercial deals, reached 4.5 billion riyals, an increase of 68TP3T.