21 Jun 2024

Last update 19 / 10 / 2022

GASTAT: Real Estate Price Index Increases by 1.5% in Q3 of 2022

General Authority for Statistics (GASTAT) released on Wednesday, 19 October 2022 the results of the Real Estate Price Index for Q3 of 2022, and published it on its official website www.stats.gov.sa 
The Publication’s results indicated a 1.5% increase in the general real estate price index for Q3 of 2022, compared to the same quarter of the previous year 2021, mainly due to the increase in residential real estate prices of +2.5%.  
According to the Publication’s results, the increase in residential land prices largely affected the increase in real estate prices in Q3 of 2022, compared to Q2 of 2021. Residential sector recorded a 2.5% increase affected by a 2.6% increase in the residential land plots prices, on an annual basis in Q3 of 2022, due to its high relative importance in the general index. Among other residential real estate prices, the prices of villas and apartments increased by 0.2% and 1.0% respectively, whereas houses decreased by 0.7%.  However, the prices of residential buildings stabilized and did not record any significant changes. Commercial sector recorded a 0.4% decrease, due to the decrease in the prices of commercial lands plots by -0.4%. The prices of galleries also decreased by 1.5%, while the prices of commercial centers increased by 0.2%. On the other hand, the commercial buildings prices stabilized and did not record any significant changes. Agriculture sector decreased by 0.6% affected by the decrease in agriculture land prices by -0.6%.
It is worth noting that GASTAT is the only official statistical reference for statistical data and information in Saudi Arabia. It carries out all the statistical work, in addition to the technical oversight of the statistical sector. It also designs and implements field surveys, conducts statistical studies and researches, analyzes data and information, in addition to documenting and archiving all works of information and statistical data that cover all aspects of life in Saudi Arabia from its multiple sources. Data are written, classified, and analyzed; their indicators are extracted as well. 

 

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