Riyadh – Mubasher: Saudi Arabia’s general real estate price index rose by 1.50% during the third quarter (Q3) of 2022, compared to the same quarter in 2021, primarily driven by higher residential real estate prices by 2.50%.
The residential sector grew by 2.50% on an annual basis in Q3-22, fueled by an annual hike of 2.60% in the prices of residential land plots, data by the General Authority for Statistics (GaStat) showed.
Among other residential real estate prices, the prices of villas and apartments went up by 0.20% and 1%, respectively, whereas prices of houses decreased by 0.70%. However, prices of residential and commercial buildings remained unchanged in Q3-22.
In the meantime, the commercial and agriculture sectors levelled down by 0.40% and 0.60%, respectively during Q3-22.
