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Eastern Province real estate deals value decline by 19% in March

Saudi Arabia - April 17, 2017
Eastern Province real estate

The real estate statistics issued by Saudi Ministry of Justice revealed a decline in the Eastern Province real estate deals value during March by 19% to hit SAR683.6 million.

The number of concluded real estate deals in the province declined also by6.1% to reach 299 deals compared to the same period of last year.

The residential sector registered a decline in the value and number of deals as it reached 220 residential deals worth SAR611.4 million dropping by 22% compared to the same period of last year.

The commercial sector signalled also a slight drop, it witnessed 7 deals worth SAR72 million decreasing by 8.9% from March 2016.

The report showed that average land price in March had dropped compared to March 2016. The average price of a land square meter reached SAR788 decreasing by 41.7% from last year.

Apartment square meter decreased also by 44.6% and villa square meter by 59.4%.

 

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