Low real estate prices during the first quarter 2018 in Saudi Arabia

Media In / Riyadh 23 April 2018
The General Organization for Statistics (GASTAT) today released the Saudi Real Estate Price Index for the first quarter of 2018. The report, based on the Ministry of Justice’s record data on real estate transactions, is an important tool to support economic and statistical decision makers The real estate price index decreased by (1.5%) compared to the corresponding quarter of the previous year (the first quarter 2017). The report attributed this decrease to the drop in the number of real estate prices Key sectors constituting the index, where the residential sector recorded a rate of (2.0%), and the proportion of the commercial sector (4.4%), the proportion of the agricultural sector (0.4%).
In the same context, the real estate price index decreased by 0.5% compared to the previous quarter (fourth quarter 2017), reaching (84.2%) in the first quarter of 2018, while it reached (84.6%) in the fourth quarter 2017, The report showed that the decline in the main sectors of the index, where the percentage of the residential sector (0.7%), the trade sector (0.5%), and the proportion of the agricultural sector (0.1%).
The index of real estate prices, which aims at finding real estate statistical indicators to measure the performance of the real estate market in the Kingdom and fill the data gap in this sector, it contains three major sectors consisting of several real estate, including the residential sector consists of ” A villa, a villa, a flat and a house “and the commercial sector, which consists of” a plot of land, a building, a gallery / shop and a commercial center “and the agricultural sector, under which” agricultural land “falls.