<The Ministry of Justice revealed that the value of real estate transactions that took place during the month of Safar of the current year 1349 AH increased by 5% compared to the same period last year, reaching 17.4 billion riyals, according to data shown by the ministry, and this is the first increase (on an annual comparison basis) in about two years, that is, since the second quarter of 1437 AH, when it recorded an increase of about 29. %.
Year-on-Year Decline
The value of real estate transactions recorded a decrease of 14% since the beginning of 1439H, equivalent to 5.2 billion riyals, compared to the same period in 1438H, to reach 32.2 billion riyals.The value of real estate transactions decreased by 14% since the beginning of 1439H, equivalent to 5.2 billion riyals, compared to the same period in 1438H, reaching 32.2 billion riyals.
Residential sector deals rise 15%
Real estate deals are distributed between residential and commercial, where the value of residential deals during the month of Safar 1439 AH amounted to about 12.9 billion riyals, an increase of 15% compared to the similar period of the previous year.
Residential transactions during the month of Safar 1439 AH amounted to about 12.9 billion riyals.
Commercial transactions fall 16%
Land accounts for 89%
Real estate transactions on land plots (residential and commercial) accounted for the largest share during the month of Safar 1439 AH, with a value of 15.4 billion riyals, amounting to about 89% of the total value, followed by apartment transactions worth 796 million riyals.
Riyadh
Riyadh is the most active city
As for the most active cities in terms of the value of residential real estate transactions during the month of Safar, Riyadh was the highest with deals worth 3.73 billion riyals, an increase of 42 % compared to the same month last year, followed by Makkah with 2.68 billion riyals, an increase of 56 %.Riyadh was the most active city in terms of the value of residential real estate transactions during the month of Safar. In terms of commercial transactions, Riyadh was the most active city, where the value of transactions that took place during Safar amounted to about 2.23 billion riyals, down by 17 % from the same month last year.
With regard to commercial transactions, Riyadh was the most active city.
