Register Rental Index recorded more than 102,000 rental transactions during the month of June, according to reports and data issued by the network in collaboration with the “Sakani” platform, across the 16 cities covered by the index, which spans all regions of the Kingdom. In a press release today, the Ejar Network clarified that more than 80,000 residential lease agreements were documented on the network, while commercial lease agreements exceeded 21,000, according to data from the fifth report on the cities covered by the Rental Index.
Top Residential Neighborhoods
In the cities with the highest number of rental transactions, the neighborhoods with the most residential rental transactions were as follows: (Dhahra Luban, Tuwaig, and Al-Aziziyah) in Riyadh, (Al-Safa, Al-Bawadi, and Al-Salamah) in Jeddah; (Al-Nour, Taybah, and Al-Atheer) in Dammam; (Al-Thaqbah, Northern Al-Khobar, and Southern Al-Khobar) in Al-Khobar; and (Wali Al-Ahd, Al-Shawqiyah, and Al-Rashidiyah) in Makkah.
Top Commercial Neighborhoods
Meanwhile, the top neighborhoods in terms of commercial transactions were as follows: (Tuwaig, Al-Olaya, and Al-Aziziyah) in Riyadh; (Al-Safa, Al-Balad, and Al-Aziziyah) in Jeddah; (Al-Anoud, Al-Adama, and Al-Salamah) in Dammam; (Northern Al-Khobar, Al-Thaqba, and Al-Aqrabia) in Al-Khobar, and (Jaroul, Crown Prince, and Al-Rashidiyah) in Makkah.
Top Cities in the Index
Riyadh topped the fifth Rental Index report as the city with the highest number of documented lease agreements, exceeding 36,000 residential and commercial leases, followed by Jeddah with approximately 30,000 contracts, then Makkah with more than 7,300 contracts, then Dammam with more than 6,400 contracts, and then Al-Khobar with more than 5,400 contracts, while the remaining cities recorded 17,000 residential and commercial transactions.
The Rental Index aims to promote transparency and stimulate investment in the Kingdom’s rental real estate sector by establishing specific rental indices for cities, neighborhoods, and various types of residential and commercial properties.
The service enables users to view the residential index for average rental prices, including types of residential units (apartment, villa, house), or (store, showroom, office) in the commercial index for average prices per square meter for commercial units; this allows for more accurate results when searching for and selecting properties that meet their needs, and facilitates searches within the cities and neighborhoods covered by the service during time periods specified by the user.
