The value of real estate transactions during the first eight months of 2018 fell to 87 billion riyals, compared to 138 billion riyals, a decrease of 63%., Meanwhile, sales in August fell by 40% to 6 billion riyals, compared to 15 billion in the same month last year, Land sales fell by 42% to 5.4 billion riyals, compared to 13 billion in August 2017.

Details released by the Ministry of Justice showed that sales of owner-occupied apartments fell by 33%—an estimated 271 million riyals—last August, compared to 819 billion in the same month of 2017, and villa sales fell by 52%, with transactions totaling 45 million riyals compared to 88 million riyals during the same period last year.

It noted that sales of showrooms and retail stores fell by 25% to 22 million riyals in August, compared to 89 million riyals during the same period last year, and transactions for affordable housing also fell by 44%, reaching 21 million riyals compared to 48 million riyals in August 2017.