The Rental Index on the Sakani platform recorded a decrease in average rental values for residential apartments in (24) neighborhoods in Riyadh, ranging from 1% to 46% for rental deals in September, compared to rental deals in August, among 66 neighborhoods that recorded 200 or more rental deals on residential apartments, including more than 38 thousand rental deals on residential apartments in Riyadh neighborhoods during September.
The average rental values for residential apartments in (24) neighborhoods in Riyadh city, ranging from 1% to 46% for rental deals in September, compared to the rental deals in August, among 66 neighborhoods that recorded 200 or more rental deals on residential apartments, including more than 38 thousand rental deals on residential apartments in Riyadh neighborhoods during the month of September. The neighborhoods (Al Murabba, Al Hamra, King Faisal, Ghubaira, Al Sahafah, Al Amal) came the most decreased in average rental values exceeding 20%, while the rest of the 42 neighborhoods recorded stability in the average rental values of residential apartments to an increase of up to 11%, and the three neighborhoods with the highest number of residential apartment deals were Dahra Laban, Al Wurood, and Tuwaiq.
<Ejar has added a package of improvements to the rental index in the Sakani platform, including comparing the average rental values of units in a group of neighborhoods, identifying the price ranges of residential units, and searching for neighborhoods that contain residential units in a price range specified by the beneficiary Where you can review the number of rental deals on residential and commercial units in the specified neighborhood during the specified period, average rental values, clarify the price range of residential deals, review them through a graph, and access the list of approved real estate brokers in the neighborhood. In addition to the “Comparison” feature, which enables the beneficiary to compare the average rental values of residential units in more than one neighborhood in one city, identify their locations and view them through the map, and review the results through a graph, and the “Smart Search” feature that allows beneficiaries to determine the required price range for residential units in a specific city, through which neighborhoods and their locations can be reviewed within the price range specified by the beneficiary, as part of supporting beneficiaries and contributing to raising market efficiency in line with the objectives of the housing program - one of the programs of the Kingdom's vision 2030 -..
It is noteworthy that the rental index aims to achieve transparency and stimulate investment in the rental real estate sector in the Kingdom, by setting accurate rental indicators for cities, neighborhoods and different types of real estate, both residential and commercial (apartment, villa, floor), or (shop, gallery, office), in more than 16 cities covering all regions of the Kingdom, and the service can be accessed through Sakani platform.
