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Press Dossier   News Category    Real Estate    Saudi Arabia’s real estate price index rises 0.8% in Q2: GASTAT

Arab News, Tuesday, Aug 01, 2023 | Muharram 14, 1445

​​Saudi Arabia’s real estate price index rises 0.8% in Q2: GASTAT

Saudi Arabia: Driven by rising property prices, Saudi Arabia’s real estate price index surged by 0.8 percent in the second quarter of this year, compared to the same period a year ago, official data showed.  

The report released by the General Authority for Statistics attributed the annual increase in the index to rising residential and commercial property prices which went up by 1.1 and 0.2 percent, respectively, in the second quarter.  

Real estate prices in the housing sector increased due to residential plots which became costlier by 1.2 percent on an annual basis in the second quarter of 2023.  

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

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