Saudi real estate price index down 0.2% in Q4

The rise in residential real estate prices by 0.5% helped reduce the decline in the general index

  
Image used for illustrative purpose. Elevated view of modern city center, Riyadh, Saudi Arabia

Image used for illustrative purpose. Elevated view of modern city center, Riyadh, Saudi Arabia

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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%.

Source: Mubasher

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