Riyadh city
The Rent Index monthly report showed that Riyadh recorded a remarkable rise in March rent deals, topping the list of cities documenting rent contracts with Ejar e-network for the second month in a row.
More than 139,000 residential rent contracts were recorded with Ejar e-network in March, while the total commercial lease deals exceeded 46,000.
Riyadh topped the Rent Index in terms of residential lease contracts, dominating more than 31% of total deals, followed by Jeddah with 19%, as the following table shows:
|
Details of Rent Index for Residential Lease Contracts in March 2022 |
|
|
City |
Ratio to Deals |
|
Riyadh |
31% |
|
Jeddah |
19% |
|
Dammam |
6% |
|
Makkah |
4% |
|
Madinah |
3% |
|
Al Khobar |
3% |
Riyadh also crowned the Rent Index in terms of commercial lease contracts, covering more than 32% of total deals, followed by Jeddah with 14%, as the following table shows:
|
Details of Rent Index for Commercial Lease Contracts in March 2022 |
|
|
City |
Ratio to Deals |
|
Riyadh |
32% |
|
Jeddah |
14% |
|
Dammam |
4% |
|
Madinah |
4% |
|
Makkah |
4% |
|
Al Khobar |
3% |
Launched last month, the Rent Index aims to raise the efficiency of the Kingdom’s real estate rental sector and its transparency level, by setting indices to measure the average rental price of residential units and the average metric price of commercial properties, based on the data of rent contracts documented in Ejar e-network.
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