KSA’s residential transaction amount drops 15.5 percent in Q...| MENAFN.COM

Wednesday, 30 November 2022 09:41 GMT

KSA’s residential transaction amount drops 15.5 percent in Q3


(MENAFN) Residential transactions amount in Saudi Arabia dropped 15.5 percent in the July-September period of this year, in comparison with the same time span of 2021, as shortage of stock availability effected action rates in the Nation’s real estate industry, as shown by the most recent market report by the global real estate adviser Commercial Real Estate Services.

In line with the report, the amount of residential transactions in the nation amounted to 37,743, reaching an overall worth of 25.6 billion in the July-September of this year, 0.8 percent lower in comparison with the same time span on 2021.

The report referred that the Dammam Metropolitan Area was the sole area to register expansion in residential transaction capacities with a surge of 12 percent in the year to the third quarter.

“Riyadh and Jeddah have maintained their downward trend in their total transaction volumes with their total diminishing by 31.1 percent and 19.3 percent respectively over the same period,” as shown by CBRE report.

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