Arab News, Tuesday, Aug 01, 2023 | Muharram 14, 1445
Saudi Arabia’s real estate price index rises 0.8% in Q2: GASTAT
Saudi Arabia:
Driven by rising property prices, Saudi Arabia’s real estate price index
surged by 0.8 percent in the second quarter of this year, compared to the same
period a year ago, official data showed.
The report released by the General Authority for
Statistics attributed the annual increase in the index to rising residential and
commercial property prices which went up by 1.1 and 0.2
percent, respectively, in the second quarter.
Real estate prices in the housing sector
increased due to residential plots which became costlier by 1.2 percent on an
annual basis in the second quarter of 2023.
“Given the heavy weight of the residential sector
prices, it had a significant impact on the increase in this general index,” said
GASTAT in the report.