Property prices in Saudi Arabia have continued to rise since the beginning of 2021, with a 1.7% increase in the second quarter of this year on a year-on-year basis, driven by a 2.8% increase in residential property prices and a 1.5% increase in agricultural prices. The Northern region and Najran topped the areas in Saudi Arabia with the highest increase in property prices in the second quarter on a year-on-year basis, at 8.9% and 6.6% respectively, while prices rose at a lower rate in the capital, Riyadh, recording 1.2%, and reached 2.4% in Mecca. The increase in residential property prices in Saudi Arabia was driven by a 2.8% rise in land prices and a 2.9% rise in apartment prices, while the prices of houses, villas, and buildings decreased by 1.4%, 0.5%, and 0.1% respectively. On another front, commercial property prices fell under pressure from a 0.6% decline in showrooms and shops and a 0.4% decline in land prices.
In Saudi Arabia... Property Prices Continue to Rise
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