Data from the General Authority for Statistics (GASTAT) revealed that the real estate price index in the Kingdom of Saudi Arabia increased by 0.6% during the first quarter of this year 2024, compared to the results of the same quarter in 2023. According to the Statistics Authority report, 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%, and is considered the most influential in the rise in real estate during the first quarter of 2024 due to its weight in the index.
According to the report, the residential sector was affected by the increase in the average prices of residential plots by 1.2%. While the report revealed that the prices of apartment buildings decreased by 0.2%, villas decreased by 2.3%, and house prices decreased by 1.6%.
The report also revealed that the prices of apartment buildings decreased by 0.2%, villas decreased by 2.3%, and houses decreased by 1.6%. The Statistics Authority also revealed that the prices of commercial sector real estate decreased by 0.5%, and agricultural sector real estate decreased by 0.1%.
The Statistics Authority also revealed that the prices of commercial sector real estate decreased by 0.5%. The commercial sector was affected by the decrease in the prices of commercial plots by 0.5%, as well as the prices of commercial galleries by 1.1%, while the prices of commercial buildings and commercial centers stabilized in Q1 2024, recording no significant change.
While the agricultural sector recorded a decrease in the prices of commercial real estate by 0.1%. The agricultural sector recorded a decrease of 0.1%, as a result of a 0.1% decrease in agricultural land prices.
The report indicated that the agricultural sector recorded a decrease of 0.1%. The report indicated that on a quarterly basis, the general real estate price index increased by 0.3% during the first quarter of 2024 compared to the fourth quarter of 2023.
The report indicated that on a quarterly basis, the general real estate price index increased by 0.3% during the first quarter of 2024 compared to the fourth quarter of 2023.
The quarterly real estate index was affected by the rise in prices of the residential sector by 0.4%, influenced by the rise in prices of residential plots, which rose by 0.4%.
The report pointed out that the quarterly real estate index was affected by the rise in prices of the residential sector by 0.4%. <The index includes three main sectors consisting of several real estate items: The residential sector consists of the following items (plot, building, villa, apartment and house), the commercial sector consists of the following items (plot, building, store/shop and mall), and the agricultural sector, under which one item is agricultural land.
The index includes three main sectors consisting of several real estate items.
