Real estate deals value during the last week in Saudi Arabia rose by 5% to reach 7 billion SAR scattered on 5535 real estate deals.
Residential properties sales value dropped in the third week of Shaaban month to reach 4.500 billion SAR to decrease by 200 million SAR compared to the latter week, while commercial properties sales hiked by 500 million SAR to reach 2.500 billion SAR during the same week.
Experts returned residential properties sales depreciation to the summer vacations season as investors focus more on travelling and preparing for Ramadan instead of business.
As for the invigorating commercial properties sector experts returned it to real estate companies interest, especially in Mecca and Medina, to accomplish real estate projects in preparation for Ramadan and pilgrimage season, thus, Mecca witnessed last week commercial lands sales value of 7.850 million SAR.
Real estate market didn’t slug by far during this summer vacation compared to latter years, on contrary, growth sustained in real estate deals value all around KSA; freehold apartments sales value has hit since the beginning of Shaaban 820 million SAR, 205 million for villas, and 279 million for retail shops.