(MENAFN) Villa and apartment prices in KSA have dropped by 8 percent, whereas land prices are down by 9 percent, as announced Saudi housing minister.
Accordingly, housing supply and demand were now drawing closer jointly, while the report did not mention the time period amid which the decline in prices happened.
In addition, the ministry inked a set of regional and global deals to supply extra housing units amid a number of sectors, from high quality to affordable units, with prices ranging from 250.000 to 700.000 riyals.
Furthermore, the ministry also inked deals with 30 property developers and is aiming extra agreements to supply more housing units through the kingdom.
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