<Housing Minister Majid Al-Hogail said that prices are now closer to the citizen's income, as land prices fell by 9 % and the prices of villas and apartments fell by 8 %. Al-Haqeel said that prices range from 250 to 700,000 riyals, and the supply has become commensurate with demand due to the projects that are carried out in partnership with the private sector, which contributes to providing units at good prices.

Haqeel said that the prices are now closer to the citizen's income. In remarks on the sidelines of launching the Restatex Riyadh 2017 exhibition, he explained that the ministry is still at the beginning of the way to solve the housing issue. He revealed that the General Authority for Statistics will release a report today on the performance of the real estate sector during the first quarter of 2017 compared to the same period of 2016.

Haqeel said. <On the other hand, a statement by the General Authority for Statistics showed that the real estate price index decreased by 9.9% during the first quarter of 2017, compared to the same quarter of 2016. In its statement, the authority attributed the decline to changes in the constituent sectors of the index, represented by a decrease in the residential sector by 9.5%, and the commercial sector by 11.It explained that the real estate price index for the first quarter of 2017 decreased by 2.3% compared to the fourth quarter of 2016, and attributed this to changes in the constituent sectors of the index. It added that the residential sector decreased by 2.6%, the commercial sector by 1.8% and the agricultural sector by 0.3%.

The residential sector decreased by 2.6%, the commercial sector by 1.8% and the agricultural sector by 0.3%.