Saudi Arabia's general real estate price index for the second quarter of 2022 recorded a 0.7% increase compared to the same quarter of 2021, said data released by the General Authority for Statistics (GASTAT).

The rise is mainly due to increase in residential real estate prices of +1.9%, it said.

Among other residential real estate, the prices of villas, apartments, and houses decreased by 1.1%, 1.1% and 0.9% respectively. However, the prices of residential buildings stabilised and did not record any significant changes.

The commercial sector recorded a 1.5% decrease, impacted by the fall in the prices of commercial land plots by 1.5%. The prices of galleries also decreased by 1.1%, while the prices of commercial centres increased by 0.1%, the data said.

Copyright 2022 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (