Data released by the General Authority for Statistics revealed that real estate prices in the Kingdom rose by 4.3 % during the first quarter of this year, the fastest rate since Q3 2023, with the residential sector leading the rise with 5.1%.

Residential prices in Saudi Arabia were affected by the acceleration of villa prices by 10.3%, the highest pace since Q3 2023. Residential sector in Saudi Arabia was affected by the acceleration of villa prices by 10.3%, the highest pace since Q3 2023. In the commercial sector, real estate prices rose 2.5% year-on-year during the first quarter of this year, the lowest annual pace, according to available data.

Riyadh led the way in the residential sector with a 5.1% rise. <The Riyadh region led the rise in real estate prices during the first quarter of this year, with 10.7% year-on-year, recording the highest pace of increases in 8 quarters. In terms of other regions, Northern Borders, Al-Jouf and Najran recorded significant growth rates, ranging between 5.6% and 8.7%, showing the existence of uneven real estate activity between the regions.

Riyadh led the increase in real estate prices during the first quarter of this year, with 10.7% year-on-year. <The increase in rates was driven by local factors including supply and demand, development projects, and levels of appetite for real estate ownership or investment. This disparity in trends indicates that the Saudi real estate market is witnessing dynamic shifts influenced by regional development and varying economic momentum from one region to another.

On the other hand, the Eastern Province witnessed an increase in rates. In contrast, the Eastern Province witnessed a significant decline of 5.5%, recording the highest annual rate of decline in Saudi Arabia during the first quarter of this year.

On the other hand, the Eastern Province witnessed a significant decline of 5.5%, recording the highest annual rate of decline in Saudi Arabia during the first quarter of this year.