Riyadh – Mubasher: The Saudi real estate price index increased by 0.5% year-on-year (YoY) in the third quarter (Q3) of 2020, driven by a rise in residential real estate prices by 2.1%.

The prices of agricultural real estate grew by 0.3%, whereas commercial real estate prices decreased by 2.5%, official data showed on Thursday.

The residential land plots prices went up by 2.1% on an annual basis in Q3-20, reflecting positively on the residential real estate prices and the general index, given their great weight in the index.

When compared to Q2-20, the real estate price index levelled down by 0.6%, owing to the drop in average prices of residential real estate by 0.5% and residential land plots by 0.5%.