Saudi Arabia’s real estate price index dips 0.2% in Q4 2020

21/01/2021 Argaam Special

Riyadh city


The Saudi real estate price index edged down 0.2% year-on-year (YoY) in the fourth quarter of 2020 -- bucking a one-year winning streak -- to 80.6 points, data issued by the General Authority for Statistics (GASTAT) showed.

 

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

 

Saudi Real Estate Price Index

Period

Price Index (Points)

YoY variation (%)

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

(4.9%)

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

0.5%

Q4

80.6

(0.2%)

 

 

 

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

 

The index decline in Q4 2020 was attributed to a 1.9% drop in the commercial real estate sector. The residential sector edged up 0.5%, contributing to reducing the decline in the general index. Meanwhile the agricultural sector remained unchanged in Q4 2020.

 

Change in Saudi Real Estate Price Index Main Sectors (Q4 2020/2019)

Sector

Variation (%)

Main Items

Item

Variation (%)

Residential

+0.5%

Plot of land

+0.5%

Building

(1.8%)

Villa

+0.3%

Apartment

(1.2%)

House

(1.0%)

Commercial

(1.9%)

Plot of land

(1.9%)

Building

--

Gallery/shop

+1.8%

Commercial center

--

Agricultural

--

Agricultural land

--

 

Relative Importance of Sectors and Items

Sectors and items

Relative importance (%)

General index

 100.0%

Residential

 65.4%

Plot of land

 62.2%

Building

 0.03%

Villa

 0.4%

Apartment

 2.6%

House

 0.2%

Commercial

 31.0%

Plot of land

 30.9%

Building

 0.003%

Gallery/shop

 0.1%

Commercial center

 0.1%

Agricultural

 3.6%

Agricultural land

 3.6%

 

 

For More Reports

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.