Saudi Arabia’s real estate index rises 0.5% in Q3 2021

21/10/2021 Argaam Special

Riyadh City


The Saudi real estate price index edged up 0.5% in the third quarter of 2021 to 80.93 points, from 80.54 a year earlier, data issued by the General Authority for Statistics (GASTAT) showed.

 

The base year for the index is 2014 (100 base points).

 

Saudi Real Estate Price Index

Period

Price Index (Points)

YoY variation (%)

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%

 

 

The real estate index comprises three segments: 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 that covers agricultural land.

 

The increase in real estate index in Q3 is attributed to a 1.1% increase in residential sector, while commercial and agricultural sectors fell by 0.7% and 0.3%, respectively.

 

Change in Saudi Real Estate Price Index Main Sectors (Q3 2020/2021)

Sector

Variation (%)

Main Items

Item

Variation (%)

Residential

+1.1%

Plot of land

+1.3%

Building

(0.3%)

Villa

(5.0%)

Apartment

(2.8%)

House

(1.4%)

Commercial

(0.7%)

Plot of land

(0.7%)

Building

--

Showroom/shop

+0.1%

Commercial center

--

Agricultural

(0.3%)

Agricultural land

(0.3%)

 

Relative Importance of Sectors and Items

Sectors and items

Relative importance

General index

100.00

Residential

65.37

Plot of land

62.16

Building

0.03

Villa

0.40

Apartment

2.58

House

0.21

Commercial

31.02

Plot of land

30.87

Building

0.003

Showroom/shop

0.08

Commercial center

0.07

Agricultural

3.61

Agricultural land

3.61

 

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