Saudi Press

Saudi Arabia and the world
Saturday, Aug 23, 2025

Saudi real estate prices up 1% in Q1 2023: GASTAT 

Saudi real estate prices up 1% in Q1 2023: GASTAT 

Real estate prices in Saudi Arabia edged up 1 percent in the first quarter of 2023, compared to the same period a year ago, according to the latest data released by the General Authority for Statistics.
The GASTAT report noted that the increase in real estate prices was driven by the rise in the prices of residential properties by 1.6 percent and commercial real estate by 0.1 percent.

“Given the heavy weight of the residential sector prices, it had a significant impact on the increase in this general index,” said the report.

It added that the decline in the agricultural sector contributed to reducing the rate of increase in the real estate index by 0.4 percent.

The report further noted that the prices of apartments increased by 2.1 percent year-on-year in the first quarter, while the prices of residential buildings and villas decreased by 0.9 percent and 0.3 percent respectively.

In the first quarter, house prices were stable and did not record any relative change.

Whereas real estate prices in the commercial sector increased by 0.1 percent, driven by the increase in the prices of commercial plots of land and commercial centers prices by 0.1 percent.

The Real Estate Price Index is a statistical tool for measuring the relative change in real estate prices in Saud Arabia. It is based on a dataset of real estate transactions that are available in the Ministry of Justice, according to GASTAT.

Compared to the fourth quarter of 2022, the general real estate index dropped by 0.1 percent affected by the decrease in the prices of the residential sector by 0.2 percent.

The report added that the prices of residential buildings decreased by 0.9 percent in the first quarter of 2023 compared to the previous quarter, while the prices of villas and apartments dropped by 2 percent and 0.1 percent respectively during the same time.

Earlier in March, data by the Real Estate General Authority Ejar revealed that residential and commercial rent deals almost doubled in value last year to reach SR76 billion ($20.2 billion) compared to SR41.9 billion in 2021.

The report added that the total value of commercial rent transactions amounted to SR40.9 billion in 2022, while those of residential properties reached SR35.1 billion.
Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Cristiano Ronaldo Makes Surprise Stop at New Hong Kong Museum
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
High-Stakes Trump-Putin Summit on Ukraine Underway in Alaska
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Nine people have been hospitalized and dozens of salmonella cases have been reported after an outbreak of infections linked to certain brands of pistachios and pistachio-containing products, according to the Public Health Agency of Canada
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
Tariffs, AI, and the Shifting U.S. Macro Landscape: Navigating a New Economic Regime
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
China Tightens Mineral Controls, Curtailing Critical Inputs for Western Defence Contractors
OpenAI’s Bold Bet: Teaching AI to Think, Not Just Chat
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Germany’s Economic Breakdown and the Return of Militarization: From Industrial Collapse to a New Offensive Strategy
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
Kurdistan Workers Party Takes Symbolic Step Towards Peace in Northern Iraq
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Russia Formally Recognizes Taliban Government in Afghanistan
×