The general index of real estate prices recorded a slight decline of 1.6% compared to the previous quarter (Q2 2018), as the general index of real estate prices in the Kingdom reached (82.3) in Q3 2018 compared to (83.6) in Q2 2018.
The general index of real estate prices in the Kingdom reached (82.3) in Q3 2018 compared to (83.6) in Q2 2018. According to a report issued by the General Authority for Statistics (GASTAT) on the real estate price index in the Kingdom for the third quarter of 2018, it attributed this decline to the decline in the main sectors that make up the index, where the residential sector decreased by (2.1%), the commercial sector by (0.5%), and the agricultural sector by (0.1%) compared to the second quarter of this year.
According to a report issued by the General Authority for Statistics (GASTAT) on the real estate price index in the Kingdom for the third quarter of 2018, it attributed this decline to the decline in the main sectors that make up the index. <During the third quarter of 2018, the residential sector witnessed a decrease in residential land compared to the previous quarter by (2.1%), where villas decreased by (1.4%), apartments decreased by (2.0%), and houses decreased by (0.3%, while residential buildings increased by (0.2%), while in the commercial sector, commercial plots decreased compared to the previous quarter by (0.5%), and in the agricultural sector, agricultural land decreased by (0.1%).
The CPI index decreased by (1.4%). <The General Real Estate Price Index is based on the record data available at the Ministry of Justice on real estate transactions, and is considered an important tool to support the concerned parties in making economic and statistical decisions related to real estate price movements and future forecasts during different periods of time: The residential sector consists of the following items: (land plot, building, villa, apartment or house), and the commercial sector consisting of: (plot of land, building, store/shop, or commercial center), and the third sector is the agricultural sector, under which one category is agricultural land.
This sector is referred to as the agricultural sector. It is noteworthy that the real estate price index aims to create accurate real estate statistical indicators that measure the real estate market in the Kingdom according to internationally recognized scientific principles and standards, and aims to fill the data gap related to the real estate field, and is an important tool to support the concerned authorities in making economic decisions related to this field and contribute to its development and development in order to achieve Vision 2030.
The real estate price index is considered an important tool to support the concerned authorities in making economic decisions related to this field and contribute to its development and development in order to achieve Vision 2030.
