Riyadh – Mubasher: The Saudi Real Estate Price Index edged up by 0.7% year-on-year (YoY) in the second quarter (Q2) of 2020, primarily supported by a 1.8% rise in residential real estates prices.

Prices of commercial real estate fell by 1.7% while agricultural real estate prices signalled a slight increase of 0.3%, according to data by the General Authority for Statistics (GaStat).

In the meantime, prices of residential plots were up by 1.9% YoY and contributed the most to the annual increase in the residential real estate prices and the index overall, given their significant weight in the index.

On a quarterly basis, the real estate index levelled down by 0.1% in Q2 as the average prices of commercial real estates slid by 0.4%. However, the average prices for residential and agricultural real estates showed no significant change.