The average supply is 107 thousand units
The Ministry of Housing indicated in its data that the average housing supply amounted to about 107 thousand units, which were added annually during the period 1992-2016, and that the real estate market is able to provide an adequate supply of housing units, but the increase in the non-Saudi population is putting pressure on the market.9.2 percent of the housing stock is occupied by non-Saudis, which has a significant impact on the rental market and property management.
9.2 billion riyals sales of Dammam apartments
The number of residential apartment purchase deals carried out in the entire metropolis of Dammam.
Number of transactions 2018 sales contracts In Al Khobar, the number of transactions increased from 101 to peak in 2015 with 543 transactions and then decreased to 429 transactions in 2016, while Dhahran had the lowest number of transactions with 563 transactions during the same period from 2010 to 2016. The total number of transactions in the city of Al Khobar increased from 101 to peak in 2015 with 543 transactions and then decreased to 429 transactions in 2016.
The total number of condominium transactions increased consistently between 2010 and 2013 at an annualized rate of 46.85%, only to see a decline in 2016 compared to 2015 to reach 2018 sales contracts. The number of transactions in the city of Dhahran was the lowest in terms of the number of transactions with 563 transactions during the same period from 2010 to 2016
Record 3205 deals
The record number of apartment ownership deals in Dammam metropolis during the period from 2010 to 2016 was in 2013 with 3205 deals. The total volume of deals executed in Dammam metropolis during the six years reached SAR 9.2 billion, Dammam city accounted for 81% of the total deals worth SAR 7.5 billion, with Khobar and Dhahran cities accounting for 15.2% and 3.8% respectively.
The year 2013 continued to be the record year for the number of apartment ownership deals in Dammam metropolis. <By the end of 2016, the average area of apartments sold in Dammam reached 212 square meters, an increase of two meters from 2015, while the average price of apartments sold reached SAR 638,000, a slight increase of 4.6% from 2015. The city of Khobar recorded the highest value of the average sale price of an apartment in 2016, reaching 804 thousand riyals.
