The General Authority for Statistics released today the for real estate prices for the fourth quarter of 2024. The report indicated a 3.6 % increase in the real estate price index during the fourth quarter of 2024, compared to the same quarter of 2023, driven by a 3.1 % increase in residential real estate prices, a 5.0 % increase in commercial real estate prices, and agricultural real estate prices by 2.8 %.

The bulletin’s results indicated that the real estate price index rose by 1.6 % on a quarterly basis during the fourth quarter of 2024 compared to the third quarter of the same year, The quarterly real estate index was influenced by a 1.0 % increase in residential property prices, a 2.7 % increase in commercial property prices, and a 9.8 % increase in agricultural property prices.

The results of the Statistics Authority’s bulletin indicated that the 5.0 % increase in commercial real estate prices in the fourth quarter of 2024 compared to the same quarter of the previous year was driven by a 5.2 %. The commercial sector also saw a 5.1 % increase in building prices, while showroom prices fell by 1.7 %.

The results showed that the annual general index rose by 2.3 % in 2024 compared to 2023, with the residential sector recording a 1.0 % increase, the commercial sector by 6.1 %, and the agricultural sector—represented by agricultural land—by 1.4 %.

It should be noted that the Real Estate Price Index is a statistical tool used to measure the relative change in real estate prices in the Kingdom.