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Real Estate Price Index Rose in 4th Q of 2024

 The General Authority for Statistics released the Real Estate Price Index for the fourth quarter of 2024, which included a 3.6% rise in the real estate price index during the fourth quarter of 2024, compared to the similar quarter of 2023, affected by a 3.1% rise in real estate prices in the residential sector, commercial real estate prices by 5.0%, and agricultural real estate prices by 2.8%.

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According to the publication’s results, the quarterly real estate price index increased by 1.6% in the fourth quarter of 2024 compared to the third quarter of the same year. The quarterly real estate index was affected by a 1.0% rise in residential prices, commercial real estate prices by 2.7%, and agricultural real estate prices by 9.8%.

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The results of the Statistics Authority‘s bulletin showed that the rise in real estate prices in the commercial sector in the fourth quarter of 2024 compared to the quarter of the previous year by 5.0% driven by a rise in commercial land prices by 5 .2%. The commercial sector also saw a rise in the prices of architecture by 5 .1%, while exhibition prices fell by 1.7%.

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The results showed that the annual general index rose by 2.3% during 2024 compared to 2023, with the residential sector rising by 1.0%, the commercial sector 6.1%, and the agricultural sector of agricultural land by 1.4%.

The real estate price index is a statistical tool to measure the relative change in property prices in the Kingdom.

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