Al-Marsad Newspaper – SPA: The general real estate price index for the fourth quarter of 2022 AD in the Kingdom increased by 1.6% compared to the same quarter of last year, the fourth quarter of 2021 AD. This increase is attributed to the increase in residential real estate prices by 2.6%.
According to the results of the bulletin, the increase in residential land prices had the greatest impact on the increase in real estate prices in the fourth quarter of 2022 AD compared to the fourth quarter of last year 2021 AD. As the residential sector recorded an increase of 2.6%, as the prices of residential plots increased by 2.7%, and due to the weight of the residential sector, it had a significant impact on the increase in the general index.
As for other residential real estate, the bulletin indicated that the prices of villas increased by 1.7%, and apartments by 2.2%, while house prices decreased by 0.4%. The prices of residential buildings were stable and did not record any significant relative change.
In the same context, the commercial sector recorded a decrease of 0.2%, affected by the decrease in the prices of commercial plots of land by 0.2%, as well as the prices of exhibitions decreased by 2.3%, while the prices of commercial buildings were stable and did not record any relative change, while the prices of commercial centers increased by 0.1. The agricultural sector decreased by 0.8%, affected by the decrease in agricultural land prices by 0.8%.