The data of the General Authority for Statistics revealed that the increase in residential land prices is the biggest influence on the increase in real estate prices in the first quarter of 2023 compared to its counterpart from the previous year, according to what the authority’s data showed on the real estate price index for the first quarter of this year.
According to the data, the real estate price index increased by 1% in the first quarter of 2023 compared to the same quarter of 2022, affected by the increase in the prices of both residential real estate by 1.6% and commercial real estate by 0.1%. figure height.
The data showed an increase in the prices of apartments by 2.1%, while the prices of buildings decreased by 0.9%, and villas by 3%, while the prices of houses were stable and did not record any relative change.
As for real estate prices in the commercial sector, they increased by 0.1%; Affected by the increase in the prices of commercial land plots by 0.1%, and the prices of commercial centers by 0.1%, while the prices of commercial exhibitions decreased by 1.9%, and the prices of commercial buildings stabilized in the first quarter of 2032, and the agricultural sector recorded a decrease by 0.4% affected by the decrease in land prices. agricultural.
On a quarterly basis, the general real estate price index declined by 0.1% during the first quarter of 2023 compared to the fourth quarter of 2022, affected by a decrease in the prices of the residential sector by 0.2%, due to the decrease in the prices of residential plots, which also decreased by 0.2%.
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Real estate in the first quarter:
– 1.2%, the rate of increase in apartment prices
– 0.9%, the rate of decline in building prices
– 3% rate of decline in villa prices
Taher Al-Husari (Jeddah) @taher_ibrahim0