Real estate transactions continued to decline during the last period, as data issued by the Ministry of Justice revealed that the value of real estate transactions that took place during the month of Sha'ban 1438 AH decreased by 33%, while the decline amounted to 30% for the last eight months, down 30% from the same period in 1437 AH.
Decline in value of real estate transactions
The value of real estate transactions during the first eight months of the current Hijri year 1438H amounted to about 149.7 billion riyals, a decrease of 30% compared to the same period last year, in which the value of real estate transactions amounted to about 212.4 billion riyals.
The value of real estate transactions in the first eight months of the current Hijri year 1438H amounted to about 149.7 billion riyals.
The value of transactions during the month of Sha'ban amounted to 18.9 billion riyals, a decrease of 33% compared to the same period last year.
Residential sector outperforms commercial
Land accounts for 91% of transactions
The land sector, both residential and commercial, received the largest share and accounted for 91% of the value of real estate transactions for the month of Shaaban, amounting to 17.2 billion riyals, followed by apartment transactions worth 862.1 million riyals.
Riyadh has the highest sales
At the city level, Riyadh recorded the highest value of transactions with 3.9 billion riyals, a decrease of 37% compared to the same month last year, followed by Jeddah with 2.6 billion riyals, a decrease of 12%.Riyadh recorded the highest value of transactions with a value of 3.9 billion riyals, a decrease of 37%. In terms of commercial transactions, Riyadh was also the most active city, where the value of transactions that took place during the month of Shaaban amounted to about 1.95 billion riyals, a decrease of 44% compared to the same month last year.
Riyadh recorded the highest value of transactions, with a value of 3.9 billion riyals, a decrease of %.
