Real estate deals hit 3-year low in Shawwal at SAR 8.7 bln

The value of Saudi Arabia's real estate transactions fell 41% year-on-year to nearly SAR 8.7 billion in Shawwal 1444 (April/May 2023), Ministry of Justice data showed. 

The real estate deals dropped by 24%, or SAR 2.7 billion, month-on-month (MoM). 

Deals executed in Shawwal 1444 are the lowest in three years or since Dhul Hijjah 1441 when it reached SAR 5.97 million. 

The number of real estate transactions during the same period stood at around 11,060, down YoY. The number of properties sold also fell to 11,310 for the same period. 

Source: Argaam