RIYADH(WNAM Monitoring): Saudi Arabia’s real estate price index witnessed a 0.7 percent increase in 2023, primarily attributed to a surge in residential sector prices, official data showed.
According to the report released by the General Authority for Statistics, average prices in the housing sector rose by 1.1 percent in 2023 compared to the previous year. This increase was particularly driven by a 1.2 percent rise in land plot purchasing expenses.
Similarly, apartment prices experienced an uptick of 0.8 percent in 2023 compared to 2022.
The report highlighted a marginal decline of 0.1 percent in house prices, while expenses for villas dipped by 3.2 percent during the same period.
