Real estate transaction sales during the first four months of 2018 totaled approximately 54 billion riyals, marking a decline of 25% compared to the same period last year, when sales totaled approximately 72 billion riyals in 2017.

The value of transactions was affected by a decline in commercial real estate sales, which fell by about 37% to 5.15 billion riyals, compared to 24 billion riyals, while residential transactions saw a smaller decline of 20%, reaching 5.38 billion riyals compared to 48 billion.

The data revealed that the value of land sales during the first four months of this year reached 45 billion riyals, while the value of owner-occupied apartment transactions did not exceed 5.3 billion riyals and that of agricultural land transactions did not exceed 7.1 billion riyals.

Sales of villas, showrooms, retail stores, traditional homes, and multi-unit buildings totaled 412 million riyals, 395 million riyals, 258 million riyals, and 49 million riyals, respectively.

The Riyadh region led all regions in sales value this year, with sales totaling 4.22 billion riyals, of which 18 billion riyals were for land transactions, 826 million riyals for owner-occupied apartment sales, 105 million riyals for villas, 321 million riyals for showrooms, 48 million riyals for affordable housing, and 5.22 million riyals for commercial and residential buildings.

The Makkah region also recorded sales of 9.10 billion riyals during the first four months of 2018, of which 9 billion riyals were from land transactions, 3.1 billion riyals from sales of owner-occupied apartments. Sales of villas totaled 210 million riyals, showrooms 7.45 million riyals, affordable housing 7.5 million riyals, and residential and commercial buildings 4.6 million riyals. In the Eastern Province, the value of transactions during the same period reached 3.10 billion riyals, of which 2.9 billion riyals were from land sales, 820 million riyals from condominium sales, 202 million riyals from agricultural land, 30 million riyals from villas, 7.3 million riyals for showrooms, 30 million riyals for affordable housing, and 12 million riyals for buildings.