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Saudi real estate price index down 0.2% in Q4

Saudi real estate price index down 0.2% in Q4
Real estate prices inched up by 0.1% in Q4 on a quarterly basis.

Riyadh – Mubasher: Saudi Arabia’s real estate price index levelled down by 0.2% year-on-year (YoY) in the fourth quarter (Q4) of 2020.

This drop was attributed to lower prices of commercial real estate by 1.9%, according to data from the General Authority for Statistics (GaStat).

The rise in residential real estate prices by 0.5% helped reduce the decline in the general index. The prices of agricultural real estate did not register any significant change.

On a quarterly basis, real estate prices inched up by 0.1% in Q4-20, helped by higher average prices of residential real estate 0.2%, particularly residential plots by 0.2%.