Riyadh city
Saudi Arabia’s real estate price index climbed 3.6% in the fourth quarter of 2024 to 104.2 points from 100.6 points a year earlier, data issued by the General Authority for Statistics (GASTAT) showed.
The authority stated that a new methodology for calculating the index was adopted in Q3 2024, in cooperation with the General Real Estate Authority (REGA), the Ministry of Justice, and the Saudi Central Bank, establishing 2023 as the base year.
This updated methodology aims to enhance the quality and transparency of real estate price data according to global best practices.
The real estate index comprises three segments: Residential covers residential land plots, buildings, villas, apartments, and houses; Commercial covers commercial land plots, buildings, shops, and malls; and Agricultural covers agricultural land.
GASTAT said that the residential segment edged up 3.1% YoY to 102.4 points in Q4 2024.
Meanwhile, the commercial segment increased by 5% YoY to 109.5 points.
Moreover, agricultural segment grew 2.8% YoY to 104.9 points in the fourth quarter of 2024.
For real estate prices by region, Riyadh recorded the highest annual rise at 10.2%, followed by Najran at 4.6% and Tabuk at 1.1%.
|
Saudi Real Estate Price Index by Region |
||
|
Region |
Price Index (Points) |
YoY Change (%) |
|
Riyadh |
113.3 |
+10.2% |
|
Najran |
102.8 |
4.6%+ |
|
Tabuk |
102.2 |
1.1%+ |
|
Madinah |
98.0 |
+0.8% |
|
Hail |
103.0 |
0.7%+ |
|
Makkah |
98.2 |
(0.6%) |
|
Northern Region |
101.3 |
(1.3%) |
|
Jazan |
99.3 |
(1.6%) |
|
Qassim |
95.6 |
(3.7%) |
|
Al-Jawf |
93.5 |
(4.1%) |
|
Eastern Region |
93.9 |
(4.6%) |
|
Asir |
88.6 |
(7.3%) |
|
Al-Baha |
83.1 |
(16.7%) |
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