Riyadh city
Residential real estate supply in Riyadh, Dammam and Jeddah rose to SAR 3.8 million in Q4 2023, Deloitte stated in a recent report.
Residential real estate supply in Riyadh rose 1% year-on-year (YoY) to 3.8 million units in the three-month period, while the supply in Jeddah and Dammam increased by 1% each to 1.1 million and 670,000 units, respectively.
Residential real estate supply in Q4 | ||
City | Space (mln units) | Change |
Riyadh | 1.9 | +1% |
Jeddah | 10.1 | +1% |
Dammam | 0.76 | +1% |
Houses sales in Riyadh increased by 5% to SAR 5,320 per square meter (sqm), while apartments sales rose by 8% to SAR 5,050 per sqm.
Average Real Estate Selling Prices in Q4 (SAR sqm) | |||||
City | Houses | Apartments | |||
Price | Change | Price | Change | ||
Riyadh | 5320 | +5% | 5050 | +8% | |
Jeddah | 5150 | +4% | 4250 | +6% | |
Dammam | 3430 | (2%) | 3545 | +5% | |
Houses and apartments rents in Riyadh increased by 3% and 6%, respectively. Meanwhile, Jeddah recorded a rise of 6% and 18% in houses and apartments rents, respectively.
Average Rents in Q4 (SAR sqm) | ||||
City | Houses | Apartments | ||
Price | Change | Price | Change | |
Riyadh | SAR 45,000-130,000 | +3% | SAR 53,000 – 250,000 | +6% |
Jeddah | SAR 60,000 – 175,000 | +6% | SAR 14,400 – 75,000 | +18% |
Dammam | SAR 36,000 – 120,000 | +11% | SAR 15,500 to 36,000 | +18% |
Offices supply in Riyadh, Jeddah and Dammam reached 8.5 million sqm, as follows:
Offices Supply in Q4 | ||
City | Space (mln units) | Change |
Riyadh | 5.9 | +5% |
Jeddah | 1.2 | +2% |
Dammam | 1.4 | +2% |
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