“Land deals hit 16 billion in one month

The value of real estate transactions during the month of Dhu al-Qi'dah 1442 AH jumped by 48.341 TP3T month-on-month, reaching approximately SAR 17.426 billion, compared to SAR 11.750 billion in Shawwal, an increase of SAR 5.68 billion. Land transactions accounted for the largest share, at 92.351 TP3T, of the total value, reaching approximately SAR 16.093 billion.

Annual decline

An analysis by Al-Watan newspaper, based on data from the Ministry of Justice, showed a decline in the value of real estate transactions that took place during the month of Dhu al-Qi’dah 1442 AH on an annual basis, compared to the same period last year, which amounted to about 26.51 billion riyals.

Similarly, the number of real estate transactions that took place during the past month of Dhu al-Qi’dah decreased to about 24,300 transactions, compared to 39,100 transactions during Dhu al-Qi’dah 1441.

Regarding the area of real estate transactions that took place during the month of Dhu al-Qi’dah, it increased by 188% to reach 516.72 million square meters compared to the same month last year, when its area was 179.2 million square meters.

Deal details

Regarding real estate transactions by property type during the month of Dhu al-Qi'dah 1442, the value of real estate transactions that took place on land plots amounted to 16,093.3 million riyals, agricultural lands 653.1 million riyals, apartments 293.4 million riyals, facilities 131.1 million riyals, showroom/shop 98.5 million riyals, villas 98.1 million riyals, houses 36.1 million riyals, commercial centers 17.8 million riyals, buildings 3.7 million riyals, and rest houses 1.4 million riyals.

residential real estate transactions

The decrease in residential real estate transactions by 39% led to a decline in real estate transactions during the month of Dhu al-Qi’dah 1442, as residential real estate transactions fell to 10.73 billion riyals compared to the same period of the previous Hijri year.

Commercial real estate transactions also recorded a decrease of 23% to reach 5.53 billion riyals, and agricultural and industrial transactions amounted to about 1.17 billion riyals.

The value of residential transactions represented 61.6% of the total real estate transactions, commercial transactions represented 31.7%, and agricultural and industrial transactions represented 6.7%.

10-month deals

The local real estate market had recorded growth of 27.67%, equivalent to 36.44 billion riyals. The value of real estate transactions during the first ten months of the year 1442 amounted to about 168.12 billion riyals, with an average of 0.840 billion riyals per day, compared to 131.68 billion riyals in the same period of 1441, with an average of 0.658 billion riyals per day.

Real estate transactions during Dhu al-Qi'dah 1442

The total value of the transactions is 17.426.3 billion riyals.

516.72 million square meters is the area of real estate transactions that took place.

24.3 thousand is the number of real estate transactions during the month.

Distribution of deals

10.73 billion riyals in residential real estate transactions.

5.53 billion riyals in commercial real estate transactions.

1.17 billion riyals in agricultural and industrial deals.

Real estate transaction values by property type

Land plots worth 16,093.3 million riyals

Agricultural lands 653.1 million riyals

Apartments worth 293.4 million riyals

Attachment 131.1 million riyals

Showroom/Shop 98.5 million riyals

Villa for 98.1 million riyals

House for 36.1 million riyals

Shopping center 17.8 million riyals

Building worth 3.7 million riyals

Rest area 1.4 million riyals