The General Authority for Statistics announced that the General Real Estate Price Index for the second quarter of 2023 increased by 0.8% compared to the same quarter last year (Q2 2022); the slight increase was attributed to the residential real estate price escalation of 1.1%.
<According to the results of the bulletin, Residential sector prices increased by 1.1%, influenced by the increase in residential plot prices by 1.2%, on an annualized basis in the second quarter of 2023, apartment prices increased by 1.0%, while condominium prices decreased by 0.9%, villa prices by 5.0%, and house prices by 0.1%.
Residential sector prices increased by 1.1%. The commercial sector recorded an increase of 0.2% affected by the rise in the prices of commercial plots by 0.2%, while the prices of exhibitions decreased by 1.1%, while the prices of buildings and commercial centers stabilized, recording no significant relative change in the second quarter of 2023.
In the agricultural sector, the index recorded a decrease of 0.3%, affected by the decrease in agricultural land prices by 0.3%..
