Saudi real estate prices fell 3.2% in Q4, data shows

30/01/2018 Argaam

 

The Saudi real estate price index fell 3.2 percent year-on-year (YoY) in the fourth quarter of 2017 to 84.6 points, from 87.5 in the same quarter last year, data issued by the General Authority for Statistics (GASTAT) showed.

 

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

 

The real estate index includes three segments: residential sector, which covers residential land plots; residential buildings, villas, apartments, and houses; commercial sector, which covers commercial land plots, buildings, shops and malls; and agricultural sector that covers rural land.

 

The commercial sector led the decline in prices by a 5.7 percent drop in Q4, followed by the residential segment by 2.2 percent, then the agriculture land by 0.6 percent.

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