Jeddah real estate transactions exceeded SAR 593 million last week...and the average price per square meter jumps 94%.
The city of Jeddah topped the real estate scene last week, recording 503 deals worth approximately 593 million riyals, while the average selling price per square meter jumped to 3,427 riyals, an increase of 94% compared to the previous week.
Jeddah led the real estate market last week, recording 503 transactions worth nearly SAR 593 million, while the average selling price per square meter surged to SAR 3,427, an increase of 94% compared with the previous week.
This came despite a decrease in the number of transactions from 519 to 503 transactions, compared to an increase in the value of trades from about 514 million to 593 million riyals.
This came despite a decline in the number of transactions from 519 to 503, while the value of transactions increased from approximately SAR 514 million to SAR 593 million.
At the Kingdom level, the number of real estate deals decreased to 2,999 deals, a 16% decrease from the previous week. The value of transactions also decreased to about 1.7 billion riyals, while the average price per square meter rose to 103 riyals.
Across Saudi Arabia, the number of real estate transactions fell to 2,999, down 16% from the previous week. The value of transactions also declined to around SAR 1.7 billion, while the average price per square meter rose to SAR 103.
In Makkah Al-Mukarramah, deals declined to 113 deals worth 109 million riyals, with the average price per square meter rising to 2,143 riyals.
In Makkah, transactions progressed to 113 deals worth SAR 109 million, while the average price per square meter increased to SAR 2,143.
Medina recorded 167 deals worth 127 million riyals, while Dammam deals reached 101 deals worth more than 95 million riyals.
Madinah recorded 167 transactions worth SAR 127 million, while Dammam recorded 101 transactions worth more than SAR 95 million.
As for Abha, the number of its deals increased to 73 deals worth 53 million riyals, with the average price per meter falling to 1,075 riyals, while Tabuk recorded 40 deals worth 19.4 million riyals and an average of 1,331 riyals per meter.
In Abha, the number of transactions rose to 73 deals worth SAR 53 million, while the average price per square meter fell to SAR 1,075. Meanwhile, Tabuk recorded 40 transactions worth SAR 19.4 million, with an average price of SAR 1,331 per square meter.
Riyadh was absent from the weekly monitoring due to the transfer of documentation of transactions in most of its neighborhoods to the real estate registry.
Riyadh was absent from the weekly monitoring because the documentation of transactions in most of its neighborhoods has shifted to the Real Estate Registry.
At the neighborhood level, Al-Safa neighborhood in Jeddah topped the trades with 38 deals, followed by Al-Rawabi neighborhood in Jizan with 32 deals, then Al-Nuzha neighborhood in Jeddah with 29 deals.
At the neighborhood level, Al-Safa district in Jeddah led transactions with 38 deals, followed by Al-Rawabi district in Jizan with 32 deals, and then Al-Nuzhah district in Jeddah with 29 deals.
