Saudi Real Estate Prices Up

2025-01-20 02:16:42

(MENAFN- Brazil-Arab News Agency (ANBA)) São Paulo – Property prices in Saudi Arabia increased by an average of 3.1% in the fourth quarter of 2024 compared to the same period in 2023, according to real estate data released on Sunday (19) by the country's General Authority for Statistics . The highest increase was recorded in residential properties, with a 3.6% growth in the same comparison.

In Riyadh, property prices rose by 10.2% in the last quarter of 2024 compared to the same period in 2023. The capital recorded the highest level of real estate inflation in the year-on-year comparison. The regions of Najran, Tabouk, Medinah, and Hail also saw price increases in the last quarter. However, in Mecca there was an average decrease of 0.6%.

Prices also fell in Jazan, Al Qaseem, Al Jouf, Aseer, and Al Baha. The northern border region of the country and the provinces in the east also experienced a decline in price indices.

Overall, prices rose in various types of properties and sectors, such as apartments, commercial real estate, and land. However, properties like galleries and shopping centers recorded a 1.7% average decrease in their prices.

Read more:
Miner Vale prepares mega project in Saudi Arabia

Translated by Guilherme Miranda

©Fayez Nureldine/AFP

The post Saudi real estate prices up appeared first on ANBA News Agency .

MENAFN20012025000213011057ID1109109685

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.