The rental index issued its first report for February 2022 on the cities registering the most rental deals, based on the rental contracts documented in the electronic network of rental services.
The city of Riyadh topped the rental index report as the most registered city for rental deals, with a percentage of more than 32% of the total deals.
It was followed by the city of Jeddah with 25%, while the cities of Makkah Al-Mukarramah and Dammam came with 6% each, then Al-Madinah Al-Munawwarah with 5% and finally Al-Khobar with 4%.
These deals were based on residential and commercial lease contracts signed during February and documented in a rental network distributed among the six cities.
The rental index, launched by His Excellency the Minister of Municipal and Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Hogail, aims to increase transparency and stimulate investment in the rental real estate sector in the Kingdom.
The service enables the beneficiary to get acquainted with the residential index of average rental prices, including types of housing units
The launch of the service in its first phase included many cities, where average rental prices for housing units in the neighborhoods of these cities will be set.