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.
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