Real estate prices increased by 1.6% in the fourth quarter of 2022

Data from the General Authority for Statistics in Saudi Arabia showed that the real estate price index increased by 1.6% in the fourth quarter of 2022, compared to the same quarter of 2021.

The General Authority for Statistics stated, in a report issued today, that the real estate price index rose, affected by the increase in residential real estate prices by 2.6%.

She added that the decline in commercial real estate prices by 0.2% and agricultural real estate prices by 0.8% contributed to reducing the rate of increase in the general index.

The authority indicated that real estate prices in the residential sector increased by 2.6%, affected by the increase in the prices of residential plots by 2.7%, on an annual basis, in the fourth quarter of 2022.

She explained that due to the weight of the residential sector prices in the general index, it had a significant impact on the rise in the general index.

Among other residential properties, the prices of villas increased by 1.7%, and apartments by 2.2%, while the prices of houses decreased by 0.4%, and the prices of residential buildings remained unchanged.