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12% increase in the residential real estate deals in Mecca

Saudi Arabia - January 6, 2015
Real Estate Deals in Mecca

The Real Estate indicators that were issued from the ministry of justice indicated that the total value of the residential real estate deals for last month especially in Mecca rose by 12% of the total average year of last year.

The residential real estate trading for last month were estimated about 5.09 billion Saudi riyals and as for the commercial properties it reached 2,03 billion Saudi riyals for the same month.

Also, it is worth mentioning that Riyadh became number one with regards to real estate liquidity while Mecca came in the second place and Jeddah came third with a total of Five billion Saudi riyals.

As for the real estate deals, Riyadh came first while Jeddah came second and Mecca came third.

Last month indicators also pointed out that the average price of square meter in Mecca decreased than the same period last year by 79%.

Mecca Chamber of Commerce and Industry’s information center revealed that the decrease in the square meter price is by no means an indicator of the decrease in residential property price as some real estate deals are mostly done in marginalized areas far away from Mecca.

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