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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