Real estate transactions during September of this year decreased by 10% compared to the same month last year on the back of the difficulties that arose when applying the new regulations related to the residential building code and municipal permits.

The real estate deals that took place on residential plots accounted for the largest share by 90.6% of the total value, amounting to about 14.1 billion riyals, followed by deals on agricultural lands by about 653.4 million riyals, and Riyadh was the highest with a value of 6.88 billion riyals, followed by Jeddah with 2.21 billion riyals.

According to a monitoring of the real estate transactions index issued by the Ministry of Justice, 6 major regions (Riyadh - Makkah Al-Mukarramah - Sharqiya - Medina - Jazan - Tabuk) recorded a decline in their real estate deals during September 2021, and deals in Riyadh decreased to 3471 deals 2021 compared to 4621 In September 2020, and Makkah from 4621 deals to 3471 deals last month, and in Medina from 1013 in September 2020 to 796 deals, and the Eastern Province from 3860 against 2405 deals last September, and the Jazan region declined from 774 deals to 377 deals, and Tabuk from 742 deals in September 2020 to only 347.

According to the monitoring, the value of total real estate transactions in the Riyadh region for 2020 recorded about 37.066 billion riyals, in Mecca 9.091 billion riyals, the Eastern Province 5.363 billion riyals, and Medina with 4.The number of real estate deals in Mecca increased in 2020, due to the increase in the projects of the Ministries of Housing and Transport and Communications, and the «electricity and real estate» sectors constituted the majority of contracts in Mecca with 477 million riyals or 32%, and the projects included the construction of power substations and real estate housing projects.