Riyadh tops Saudi Arabia's Rent Index in March

12/04/2022 Argaam Special
Riyadh city

Riyadh city


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

 

More than 139,000 residential rent contracts were recorded with Ejar e-network in March, while the total commercial lease deals exceeded 46,000.

 

Riyadh topped the Rent Index in terms of residential lease contracts, dominating more than 31% of total deals, followed by Jeddah with 19%, as the following table shows:

 

Details of Rent Index for Residential Lease Contracts in March 2022

City

Ratio to Deals

Riyadh

31%

Jeddah

19%

Dammam

6%

Makkah

4%

Madinah

3%

Al Khobar

3%

 

Riyadh also crowned the Rent Index in terms of commercial lease contracts, covering more than 32% of total deals, followed by Jeddah with 14%, as the following table shows:

 

Details of Rent Index for Commercial Lease Contracts in March 2022

City

Ratio to Deals

Riyadh

32%

Jeddah

14%

Dammam

4%

Madinah

4%

Makkah

4%

Al Khobar

3%

 

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.

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.