السعودية: ارتفاع الرقم القياسي لأسعار العقارات بنسبة 0.6% في الربع الأول 2024

Riyadh city

Saudi Arabia’s real estate price index climbed 1.7% in the second quarter of 2024 to 83.94 points from 82.52 points a year earlier, data issued by the General Authority for Statistics (GASTAT) showed.

 

The base year for the index is 2014 (100 base points). 

 

The following table shows changes in Saudi Arabia’s real estate price index: 

  

Saudi Real Estate Price Index 

Period 

Price Index

(Points)

YoY Change

(%)

Q1 2014 

98.2

--

Q2 

99.3

--

Q3 

101.0

--

Q4 

101.6

1.6%

Q1 2015 

99.2

1.0%

Q2 

98.1

(1.2%)

Q3 

96.4

(4.6%)

Q4 

95.8

(5.7%)

Q1 2016 

94.8

(4.4%)

Q2 

92.9

(5.3%)

Q3 

90.7

(5.9%)

Q4 

87.5

(8.7%)

Q1 2017 

85.5

(9.8%)

Q2 

84.9

(8.6%)

Q3 

84.9

(6.4%)

Q4 

84.6

(3.3%)

Q1 2018 

84.2

(1.5%)

Q2 

83.6

(1.5%)

Q3 

82.3

(3.1%)

Q4 

80.4

(5.0%)

Q1 2019 

80.1

(4.8%)

Q2 

80.4

(3.8%)

Q3 

80.1

(2.7%)

Q4 

80.8

0.5 %

Q1 2020 

81.1

1.2 %

Q2 

81.0

0.7 %

Q3 

80.5

0.6 %

Q4 

80.6

(0.3%)

Q1 2021 

81.3

0.2 %

Q2 

81.3

0.4 %

Q3 

80.9

0.5 %

Q4 

81.3

0.9 %

Q1 2022 

81.7

0.4 %

Q2 

81.9

0.7 %

Q3 

82.1

1.5 %

Q4 

82.6

1.6 %

Q1 2023 

82.5

1.0 %

Q2 

82.5

0.8 %

Q3 

82.7

0.7 %

Q4 

82.8

0.2 %

Q1 2024 

83.0

0.6 %

Q2

83.9

1.7 %

 

 

The real estate index comprises three segments: the residential sector, which covers residential land plots, buildings, villas, apartments, and houses; the commercial sector, which covers commercial land plots, buildings, shops, and malls; and the agricultural sector, which covers agricultural land. 

  

GASTAT said that the residential sector edged up 2.8% year-on-year (YoY) in Q2 2024, while the agricultural sector increased by 1.5%.

 

However, commercial sector declined 0.4% YoY.

 

The table below demonstrates the key changes in the main sectors constituting the real estate price index in Q1 2024:

  

Change in Real Estate Price Index Main Sectors (Q2 2023/24) 

Sector 

Change

Main Items

Item

Change

Residential 

+2.8%

Land plot

2.8 %

Building

(0.1%)

Villa

(0.5%)

Apartment

2.9 %

House

(1.4%)

Commercial 

(0.4%)

Land plot

(0.4%)

Building

--

Showroom/shop

(0.6%)

Commercial center

--

Agricultural 

+1.5%

Agricultural land

1.5 %

  

The following table indicates the relative importance of the sectors and items of the real estate price index: 

 

Relative Weight of Sectors and Items 

General Index 

100.00%

Residential 

65.37%

Land plot 

62.16%

Building 

0.03%

Villa 

0.40%

Apartment 

2.58%

House 

0.21%

Commercial 

31.02%

Land plot 

30.87%

Building 

0.003%

Showroom/shop 

0.08%

Commercial center 

0.07%

Agricultural 

3.61%

Agricultural land 

3.61%

 

 

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