Data The Real Estate Exchange revealed that the real estate market in the Kingdom of Saudi Arabia recorded during the month of September a qualitative leap in the value of real estate transactions, reaching about 311 billion riyals, compared to 138 billion riyals in August, representing a significant increase of 125%. These figures confirm the increasing vitality of the real estate sector, which is witnessing remarkable growth amid increasing interest in investing in real estate in various regions of the Kingdom.
The area of traded properties increased by 88%
The growth was not limited to the value of transactions, but the total area of real estate traded during the month of September also saw a significant increase. The traded area reached 1.16 billion square meters, compared to 614 million square meters in August, representing an increase of 88%. This growth reflects the expansion of real estate activity in the Kingdom, in light of the diversity of investment opportunities and the increasing demand for land and real estate.
61.9 thousand real estate transactions during September
In terms of the number of real estate transactions, the data revealed that September saw 61.9 thousand transactions completed, compared to 61.5 thousand in August. This slight rise reflects a stabilization in the number of real estate transactions, with an increase in the volume of properties traded, as 59.1 thousand properties were traded in September, compared to 58 thousand properties traded in August.
With regard to the number of real estate transactions, the data revealed that September saw 61.9 thousand transactions, compared to 61.5 thousand transactions in August.
Average price per meter rises to 7286 riyals
One of the most prominent indicators in the real estate market for September was the rise in the average price per square meter of traded properties, reaching 7286 riyals per meter, compared to 6484 riyals in August. Despite this rise, the market witnessed a decline in the highest price per square meter during September, which amounted to only 1 million riyals, while the highest price per meter in August reached 3.1 million riyals.
Diversity in real estate operations
<Real estate transactions in the market varied between several types of transactions, including sale, gift, mortgaged real estate transactions, and financed transactions, in addition to foreclosure and de-foreclosure, sorting and merging properties, and updating and modifying real estate data. This diversity highlights the dynamism of the real estate sector in Saudi Arabia, where each type of transaction plays an important role in driving real estate investment.Future outlook for real estate activity
These data indicate that the momentum in the Saudi real estate market will continue in the coming months, especially in light of the government's economic reforms and ambitious programs that aim to strengthen the real estate sector as one of the key sectors in achieving the Kingdom's Vision 2030. Demand for land and real estate is expected to continue to increase, driven by the expansion of residential and commercial projects in various cities and regions. <The Saudi real estate sector is also witnessing unprecedented growth in the value of transactions and the volume of land traded, with a remarkable improvement in prices and stability in the number of transactions. This strong performance reflects the depth and strength of the real estate market in the Kingdom and indicates promising opportunities for investors in this sector in the coming periods.
