According to GASTAT, the residential sector was affected by the increase in the prices of residential plots by 1.2%, and the prices of apartments by 0.8%.
<According to the General Authority for Statistics, the residential sector was affected on an annual basis by the increase in the prices of residential plots by 1.2%, and the prices of apartments by 0.8%, and is considered the influential factor in the rise in real estate for 2023; due to its weight in the index. Condominium prices declined by 1%, villa prices by 3.2%, and house prices by 0.1%.
While the annual report revealed that residential land prices fell by 1.2%, villas by 3.2%, and apartments by 0.8%. <While the annual report of the General Authority for Statistics revealed that the commercial sector declined by 0.1%, affected by a decrease in the prices of commercial plots by 0.1% and exhibition prices by 1.3%, while the prices of commercial buildings and prices of commercial centers stabilized and did not record significant relative changes during 2023. The census data also showed that the prices of the agricultural sector in 2023 decreased by 0.3%, affected by the decrease in the prices of agricultural land plots by 0.3%.
The census data also showed a decrease in the prices of the agricultural sector in 2023 by 0.3%.
Real estate prices in the fourth quarter of 2023
While the real estate price index increased by 0.2% in the fourth quarter of 2023 on a year-on-year basis; influenced by the increase in residential sector real estate prices by 0.6%, commercial sector real estate by 0.5%, and agricultural sector real estate by 0.1%.
The real estate price index increased by 0.2% in the fourth quarter of 2023 on an annual basis. The report attributed the increase in real estate prices in the residential sector as a result of an increase in the prices of residential plots by 0.7%; given the heavy weight of the residential sector in the general index, it had a significant impact on the increase in the general index.
The report attributed the increase in real estate prices in the residential sector. During the fourth quarter of 2023, the report indicated that apartment prices increased by 0.1%, while condominium prices decreased by 0.9%, villas by 3.8%, and houses by 0.3%.
With the heavy weight of the residential sector in the general index, it had an impact on the increase in the general index.
Property prices in the commercial sector fell
Real estate prices in the commercial sector also declined by 0.5%, affected by the decline in commercial plots prices by 0.5% and trade show prices by 0.9%.
In contrast, real estate prices in the commercial sector stabilized by 0.9%. On the other hand, the prices of commercial buildings and commercial centers stabilized in Q4 2023, recording no significant change, while the agricultural sector witnessed a decrease of 0.1% due to a decrease in agricultural land prices by 0.1%.
On the other hand, the prices of commercial buildings and commercial centers stabilized in Q4 2023, recording no significant change, while the agricultural sector witnessed a decrease of 0.1%. On a quarterly basis, the Statistics Authority annual report showed that the general real estate price index increased by 0.1% during the fourth quarter of 2023 compared to the previous quarter (the third quarter of 2023).
On a quarterly basis, the general real estate price index increased by 0.1% during the fourth quarter of 2023 compared to the previous quarter (the third quarter of 2023).
