The real estate price index index in Saudi Arabia increased by 0.6% in the first quarter of 2024, compared to the same quarter in 2023, affected by the rise in residential sector real estate prices by 1.2%.

According to a report issued by the Saudi Statistics Authority, the prices of both commercial sector real estate decreased by 0.5%, and agricultural sector real estate prices decreased by 0.1%.

Real estate prices in the residential sector increased by 1.2%, affected by the increase in the prices of residential land plots by 1.2%, and given the heavy weight of the residential sector in the general index, it had a significant impact on the rise in the general index, according to the report.
The real estate price index index increased by 0.6% in the first quarter of 2024 compared to the same quarter in 2023, affected by the rise in residential sector real estate prices by 1.2%.

Among other residential properties, apartment prices increased by 0.8%, while prices for residential buildings decreased by 0.2%, villas by 2.3%, and houses by 1.6%.
On the other hand, real estate prices in the commercial sector decreased by 0.5%, affected by the decrease in the prices of commercial land plots by 0.5%, as well as the prices of commercial exhibitions by 1.1%, while the prices of commercial buildings and commercial centers stabilized in the first quarter of 2024 and did not record any significant change.

The agricultural sector recorded a decrease of 0.1% as a result of a decrease in agricultural land prices by 0.1%.

The general real estate price index increased by 0.3% during the first quarter of 2024 compared to the previous quarter, the fourth quarter of 2023.

The quarterly real estate index was affected by an increase in residential sector prices by 0.4%, influenced by an increase in the prices of residential land plots, which rose by 0.4%.

Among other residential properties, apartment prices increased by 0.7%, while condominium prices decreased by 0.2%, villas by 0.4%, and house prices by 1.0%.

While the prices of the commercial sector recorded stability and did not record any significant relative change, due to the decrease in the prices of commercial exhibitions by 0.3%, while the prices of commercial land plots, buildings, and commercial centers stabilized, and did not record any significant relative change in the first quarter of 2024.

On the other hand, agricultural sector prices stabilized and recorded no significant change in the first quarter of 2024.