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Featured residential units in Jeddah count 775 thousand unit

Saudi Arabia - April 6, 2015
Jeddah City

JLL Real Estate Company has counted in its report the number of featured residential units in Jeddah nowadays to reach 775 thousand units including 6 thousand units finished in the last quarter.

The report added that residential units selling prices in Jeddah rose as well but with slower rates during the first quarter. As for the number of real estate transactions in Jeddah; villas sector transactions decreased by 59% since the application of the new real estate mortgage system last November, apartment transactions number fell as well during the same period by 27%.

Hospitality real estate sector retained its occupation rate in Jeddah with 73% which reflects the high demand of hotel rooms in the city. The rate stability contributed in fixing the price rate despite the new market supplies which entered the market during the last period.

As for other real estate sectors: occupation rate downed in retail sector to stand on 6.8% and settled on 6% in business sector.

 

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