Riyadh led the increases 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, according to data released by the General Authority for Statistics.

Riyadh region led the increases in real estate prices during the first quarter of this year. <Northern Borders, Al Jawf and Najran recorded significant growth rates, ranging from 5.6% to 8.7%, showing that real estate activity varied between regions. This was driven by local factors including supply and demand, development projects, and levels of demand 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 a notable decline of 5.5%, recording the highest annual rate of decline in Saudi Arabia during the first quarter of this year.

The region continued to decline in prices for the fifth consecutive quarter, followed by Asir with a decline of 4.4% for the sixth consecutive quarter.

As development activity continues and performance varies between regions, some areas with current declines may be future investment opportunities, especially with the expected return of momentum in the residential sectors.

With the expected return of momentum in the residential sectors.