Saudi real estate prices fell in Q2, data shows

The Saudi real estate price index fell 8.6 percent year-on-year (YoY) in the second quarter of 2017 to 84.9 points, from 92.9 points in the same quarter last year, data issued by the General Authority for Statistics (GASTAT) on Monday showed.

The base year for the index was determined to be 2014 (100 base points).

The real estate index includes three segments; the residential sector, which covers residential plots, residential buildings, villas, apartments, and houses; the commercial sector, which covers commercial plots, commercial buildings, galleries/shops, and malls; and the agricultural sector that represents rural lands.

The commercial sector led the decline in prices by a 10.9 percent drop in Q2, followed by the residential segment by 7.9 percent, then the agriculture land by 1 percent.