Real Estate Market logs 70,000 transactions in 2 months: Sources

Logo of Real Estate Market

Saudi Real Estate Market registered more than 70,000 transactions since its launch about two months ago, sources with the knowledge of the matter told Argaam.

Trading value was more than SAR 56 billion and the traded areas amounted to about 550 million square meters (sqm), sources said.

The Real Estate Market provides its services around the clock. It allows easy buying and selling of properties, in addition to helping beneficiaries to leverage mortgage services electronically. It also offers the consolidation and sorting of real estate deeds, as well as deeds updating.

Real estate owners who have not updated their property deeds can benefit from the deed update service provided through the Real Estate Market.

The updated property deed (free of obstacles and restrictions) is automatically included among the available properties list, as beneficiaries can view their updated properties when entering real estate inquiries, by selecting owned properties.

The Real Estate Market provides a set of indices for the value of real estate transactions in cities and neighborhoods of Saudi Arabia that are available for trading. They can be displayed chronologically or through the entire historical period of transactions from the start of e-listing.

The indices depend on calculating the number of transactions, properties, and value in Saudi riyals, in addition to measuring the area in sqm.

It is possible to track the property and its price in the most active areas, to compare it with the different regions.