Riyadh: Apartment prices rise by 20%

Apartment prices in Saudi Arabia’s capital Riyadh have shot up by 20 percent on average in the last 12 months.

Villa prices went up by 18.6 percent during that time. The increase in prices has led to a drop in transactions, suggesting that homebuyers are struggling to afford new properties.

The number of property deals in the year to Q1 of 2022 fell by 27 percent, the company said in a statement. With the rising prices, this reflected a drop in deal values of two percent to $10.7 billion

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