The last quarter of 2021 saw real estate prices rise at an annual rate of 0.9 percent due to rising land prices in Saudi Arabia, according to data provided by the Statistics Agency.
According to Arab News, the increase is the highest since the first quarter of 2020.The real estate sub-index has risen 1.7% due to the rise in residential plot prices.
This sub-index of real estate includes expenses for buildings, bungalows, apartments and houses.
Statistics, meanwhile, show that prices of commercial and agricultural properties fell 0.7 percent and 0.2 percent, respectively, from a year earlier, balancing the impact on the overall index.
In the last quarter of last year, real estate prices in the country as a whole increased by 0.5%, with the sub-index of residential properties increasing by 0.7%.
