Riyadh city
The Saudi real estate price index edged up 1.6% in the fourth quarter of 2022 to 82.6 points from 81.30 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 |
0.5% |
|
Q4 |
80.6 |
(0.2%) |
|
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% |
The real estate price index comprises three sectors: Residential, which includes residential land plots, buildings, villas, apartments and houses; commercial, which covers commercial land plots, buildings, shops and malls; and agricultural that encompasses agricultural land.
The increase in real estate price index in Q4 2022 is driven by a 2.6% year-on-year (YoY) jump in the residential sector, due to an increase of 2.7% in residential land prices.
The index hike was mitigated by a decline in commercial and agricultural sectors by 0.2% and 0.8% YoY, respectively.
The table below demonstrates the changes in the main constituents of the real estate price index in Q4 2022:
|
Change in Saudi Real Estate Price Index Main Sectors (Q4 2022) |
|||
|
Sector |
Change |
Main Items |
|
|
Item |
Change |
||
|
Residential |
+2.6% |
Land plot |
+2.7% |
|
Building |
-- |
||
|
Villa |
+1.7% |
||
|
Apartment |
+2.2% |
||
|
House |
(0.4%) |
||
|
Commercial |
(0.2%) |
Land plot |
(0.2%) |
|
Building |
-- |
||
|
Showroom/shop |
(2.3%) |
||
|
Commercial center |
+0.1% |
||
|
Agricultural |
(0.8%) |
Agricultural land |
(0.8%) |
The following table indicates the relative importance of the sectors and categories of the real estate price index:
|
Relative Importance of Sectors and Categories |
|
|
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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