Saudi Real Estate Records 654 Transactions Worth SAR 279.9 Million in a Single Day
The daily index of the Real Estate General Authority showed 654 sales transactions worth approximately SAR 279.9 million recorded on October 7, an increase of 29.68% in value compared to the previous business day.
The daily index of the Real Estate Indicators platform, affiliated with the Real Estate General Authority in Saudi Arabia, showed 654 real estate sales transactions recorded at a value of approximately SAR 279.9 million during trading on Wednesday, October 7.
The traded area reached approximately 7.3 million square meters, and the value of transactions rose by 29.68% compared to the previous business day, while the traded area increased by 100.8%, and the number of transactions increased by 2.82%.
The index explained that residential land is the most active property type in cumulative data, and that Al-Rimal neighborhood in Riyadh leads the neighborhoods in terms of activity.
The daily figures are based on data from the Ministry of Justice and the Real Estate Registry, and are displayed before processing and refinement, which means final figures may differ after reviewing late registrations.
What do these terms mean?
Real Estate General Authority: A Saudi government entity that regulates the real estate sector and publishes indicators and data on market movement.
Real Estate Index: A periodic metric tracking the number, value, and traded area of transactions in the real estate market.
Real Estate Transaction: A sale or purchase process of a property or land officially registered with the competent authorities.
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