Riyadh City

The Rent Index monthly report showed that Riyadh recorded a remarkable rise in April rent deals, topping the list of cities documenting rent contracts with Ejar e-network for the third month in a row.
 

More than 104,000 rent contracts were recorded with Ejar e-network in April, which include above 80,000 residential contracts and about 24,000 commercial contracts.
 

Riyadh topped the Rent Index in terms of residential lease contracts, dominating more than 44% of total deals, followed by Jeddah with 26%, as the following table shows:
 

Details of Rent Index for Residential Lease Contracts in April 2022

City

Ratio to Deals

Riyad

43.6%

Jeddah

25.5%

Dammam

8.1%

Makkah

6%

Al-Madinah

5.6%

Al Khobar

4.6%

Tabuk

2.2%

Buraidah

2.0%

Hail

2.0%

Jeezan

1.2%

Riyadh also led the Rent Index in terms of commercial lease contracts, covering about 46% of total deals, followed by Jeddah with 20%, as the following table shows:

 

Details of Rent Index for Commercial Lease Contracts in April 2022

City

Ratio to Deals

Riyad

45.5%

Jeddah

20.0%

Dammam

8.0%

Al-Madinah

7.2%

Makkah

6.3%

Al Khobar

3.4%

Buraidah

2.9%

Hail

2.7%

Tabuk

2.5%

Jeezan

1.1%

  

Launched last month, the Rent Index aims to raise the efficiency of the Kingdom’s real estate rental sector and its transparency level, by setting indices to measure the average rental price of residential units and the average metric price of commercial properties, based on the data of rent contracts documented in Ejar e-network.

 

The Rent Index currently includes 10 cities, namely: Riyad, Jeddah, Makkah, Dammam, Al Madinah, Al Khobar, Buraidah, Tabuk, Hail and Jeezan.

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