Saudi property prices hold up despite drop in sales

Saudi property prices hold up despite drop in sales

The Saudi residential property market is beginning to take a hit from the economic slowdown caused by the kingdom’s oil production cuts. Yet according to figures published by real estate consultancy CBRE, prices remain resilient in the face of a fall-off in third quarter sales. A total 61,473 transactions took place in the third quarter, […]

Deals down but prices up

Mortgages fall by 37%

Only Jeddah prices slide

The Saudi residential property market is beginning to take a hit from the economic slowdown caused by the kingdom’s oil production cuts.

Yet according to figures published by real estate consultancy CBRE, prices remain resilient in the face of a fall-off in third quarter sales.

A total 61,473 transactions took place in the third quarter, down 7 percent on the same period in 2022. The total value of the transactions fell more than 11 percent to SAR45.9 billion ($12.24 billion), the group said.

PIF expects $1trn real estate spending over next decade

Saudi inflation eases but real estate buoys the index

PIF’s Saudi Real Estate issues $933m sukuk

The number of mortgage contracts for the year to the end of the third quarter was down 37.5 percent on the previous year, while the total value registered fell by 38 percent to