Residential sector activity declined. 2.7 billion riyals of real estate transactions sales in a week
The real estate market continued to fluctuate over a full month, as real estate transactions recorded its lowest level in 18 months, falling during the third week of October by 14.8%, which settled at 2.7 billion riyals.
The biggest impact of the decline in the residential sector came from the decline in real estate transactions, which reached a level of 2.7 billion riyals.
Sales of real estate transactions.The biggest impact of the decline in real estate activity came from the decline in activity in the residential sector, which recorded a record decline of 20.5%, and in turn the value of transactions in the sector stabilized at the end of the third week of last October at less than 1.7 billion riyals.
The total value of transactions in the sector decreased by the end of the third week of October. The total value of transactions of the agricultural and industrial sectors for the same week decreased by 12.4%, while the commercial sector managed to record a limited weekly growth during the same week with an increase of 1.2 percent, after two consecutive weeks of sharp decline in the value of its transactions totaling 80.9%.
Weekly performance indicator deals
Residential
1.7 billion riyals.
Decline: 20.5%.
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Commercial sector
705 million riyals
Rise: 1.2%
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Agricultural and Industrial
334 million riyals.
Decrease: 12.4%.
