Real estate transactions during the month of Rabi'II 1438 AH decreased to 17.2 billion riyals by 53% compared to the same month last year, while the report indicated that the value of real estate transactions since the beginning of the year 1438 AH decreased by 34% to reach 76.7 billion riyals compared to about 116.9 billion riyals during the same period last year.
Real estate transactions since the beginning of the year 1438 AH decreased by 34% to reach 76.7 billion riyals compared to 116.9 billion riyals during the same period last year.
Residential transactions decreased 34%
According to the indicators of the Ministry of Justice, the value of residential transactions amounted to about 11.3 billion riyals during the second spring of 1438H, a decrease of 34% compared to the same period of the previous year, while the value of commercial transactions amounted to about 5.9 billion riyals during the second spring of 1438H, recording a decrease of 69% compared to the same period last year.The value of commercial transactions amounted to about 5.9 billion riyals during the month of second spring of 1438H, recording a decrease of 1.69TP3T compared to the same period of the previous year.
Real estate transactions on land plots (residential and commercial) accounted for the largest share during the month of Rabi" II of the year 1438H, with a value of 15.2 billion riyals, amounting to about 88 % of the total value, followed by agricultural land transactions worth 726.9 million riyals.
As compared to the same period last year.
Positive news for residential products
The real estate community expects that the state of price decreases for real estate products and land will continue during the coming period.
