The rise in the real estate index supported by land prices


The real estate price index recorded an increase of 0.2% during the first quarter of 2021 on an annual basis; According to the quarterly report of the General Authority for Statistics issued yesterday; Affected by the 0.6% increase in residential real estate; As a result of an increase in the price of plots of land by 0.7%. While the prices of residential buildings decreased by 0.4%, apartments by 1.2%, and homes by 0.8%. The decline in commercial real estate prices by 0.4% and agricultural by 0.2% contributed to reducing the increase in the general index. The commercial sector was affected by the decrease in the prices of plots of land by 0.5%, despite the increase in exhibition prices by 1.6%, in contrast to the stability of the prices of buildings and commercial centers. The decline in prices in the agricultural sector was affected by the decline in land by about 0.2%. On a quarterly basis, the real estate price index increased by 0.9% compared to the fourth quarter of 2020; As a result of the increase in residential land, whose prices increased by 1.1%, the average of the commercial sector also increased by 0.7% compared to the fourth quarter of last year While the prices of buildings and commercial centers stabilized.

During the previous quarter, the real estate price index in the Kingdom recorded a decrease of 0.2% in the fourth quarter of 2020 on an annual basis.

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