The weekly transactions of the local real estate market witnessed an increase in the total value of its transactions by 13.0 percent, to settle at the end of last week at less than 4.4 billion riyals, driven by the record growth in the value of transactions in the commercial sector, which recorded a weekly growth of about 43.3 percent, compared to a lower weekly growth in the value of transactions in the residential sector by 6.3 percent.
Weekly transactions in the local real estate market increased by 13.0 percent.
7794 real estate transactions
<The total number of real estate transactions recorded a weekly decrease of 4.6 percent, to settle at the end of last week at the level of 7794 real estate transactions, affected by the largest decrease in the number of residential real estate transactions, which amounted to 4.8 percent, and the total number of properties sold during the week recorded a decrease of 4.5 percent, to stabilize at the end of last week at the level of 8,510 properties sold, and was more affected by the decrease in the number of properties sold in the residential sector, which recorded a decrease during the week 5.6 percent, compared to an increase in the commercial sector 5.1 percent.
The current quarterly average price per square meter of residential land until the end of last week recorded a decrease of 9.4 percent, compared to its level recorded during the second quarter of this year, to stabilize at the end of the period at 992 riyals per square meter, compared to its level during the second quarter of 1094 riyals per square meter. While it recorded stability, compared to its level during the third quarter of last year (992 riyals per square meter)...The real estate market...
At the level of major cities, a comparison of average residential land prices with their level during the second quarter showed that Qatif recorded the highest growth in the average by 5.3 percent (1087 riyals per square meter), while Tabuk came the largest decline in the average by 19.3 percent (736 riyals per square meter). As for the major cities (Riyadh, Jeddah, and Dammam), the movements of average land prices in them were as follows: The average in Riyadh fell 9.9 percent (SAR 1473 per square meter), compared to its level during the second quarter of this year, while it recorded an annual decline of 8.3 percent, compared to the same quarter last year. The average in Jeddah decreased 2.1 percent (SAR 1182 per square meter), compared to its level during the second quarter of this year, while it recorded an annual decrease of 19.3 percent, compared to the same quarter last year. The average in Dammam decreased by 3.5 percent (1515 riyals per square meter), compared to its level during the second quarter of this year, while it recorded an annual decrease of 6.1 percent, compared to the same quarter last year. ....The real estate market...
Villa Prices
The current quarterly average price of residential villas until the end of last week increased by 0.8 percent, compared to its level recorded during the second quarter of this year, to stabilize at the end of the period at a level just below 1.0 million riyals per villa, compared to its level during the previous second quarter 0.991 million riyals per villa. While it recorded an annual decrease of 4.9 percent, compared to the third quarter of last year (1.05 million riyals per villa).
At the level of major cities, comparing the average prices of residential villas with their level during the second quarter showed that Dammam recorded the highest growth in the average by 34.5 percent (SAR 1.2 million per villa), while Jeddah came the largest decline in the average by 35.8 percent (SAR 1.3 million per villa during the third quarter of last year). As for Riyadh, the average recorded a decrease of 1.6 percent (SAR 1.0 million per villa), compared to the previous second quarter, and recorded an annual decrease of 13.8 percent (SAR 1.2 million per villa during the third quarter of last year), compared to the same quarter last year. ....The real estate market...
Apartment Prices
The current quarterly average price of residential apartments until the end of last week recorded a decrease of 1.3 percent, compared to its level recorded during the second quarter of this year, to stabilize at the end of the period at the level of 453.8 thousand riyals for the apartment, compared to its level during the previous second quarter 459.8 thousand riyals for the apartment. While it recorded an annual increase of 10.8 percent, compared to the general average price during the third quarter of last year (409.7 thousand riyals for the apartment)....The real estate market...
At the level of major cities, comparing the average prices of residential apartments with their level during the second quarter showed that Hail recorded the highest growth in average 14.8 percent (333 thousand riyals per apartment), while Al-Ahsa came the largest decline in average 12.9 percent (322 thousand riyals per apartment). As for the major cities (Riyadh, Jeddah, and Dammam), the movements of average apartment prices came as follows: The average in Riyadh decreased by 2.4 percent (SAR 483.1 thousand per apartment), compared to the price level during the second quarter of this year, while the average price of apartments in Riyadh recorded an annual increase of 21.3 percent, compared to the same quarter last year. As for Jeddah, the average price of apartments in Jeddah recorded a 2.0 percent increase (SAR 462.6 thousand per apartment), compared to the price level during the second quarter of this year, while the average price of apartments in Jeddah recorded an annual increase of 4.5 percent, compared to the same quarter last year. Finally, the average price of apartments in Dammam recorded a decrease of 3.2 percent (SAR 466.2 thousand per apartment), compared to the price level during the second quarter of this year, while the average price of apartments in Dammam recorded an annual increase of 22.1 percent, compared to the same quarter last year. ....The real estate market...
