Data released by the Real Estate Exchange , which is affiliated with the Ministry of Justice, revealed significant activity in the real estate market during the month of January. A total of 27,000 real estate transactions were concluded, covering an area exceeding 8 million square meters, with a total value exceeding 29 billion riyals. This compares to 26,000 transactions in December 2023, with a total value estimated at approximately 27 billion riyals.

The latest data released by Real Estate Exchange for 2024 that disparities among neighborhoods in the Kingdom of Saudi Arabia regarding real estate transactions continue. January saw no significant change in the ranking of the most active neighborhoods.

Riyadh neighborhoods top the list

It is worth noting that Riyadh neighborhoods retained their lead at the top of the list, with Al-Nizam neighborhood ranking first with 1,451 transactions. In second place was Al-Khair neighborhood with 598 transactions, followed by Al-Narges neighborhood in third place with 463 transactions. In fourth place was the Namar neighborhood with 409 transactions, while the Janadriyah neighborhood ranked fifth with 388 transactions.

The data reflects the continued stability in investors’ and buyers’ preference for certain neighborhoods over others and provides a comprehensive overview of the real estate landscape in the Kingdom. This diverse distribution of real estate transactions can boost economic activity in those neighborhoods. It also indicates continued interest in real estate in these areas.