General Authority for Statistics (GASTAT) issued on its official website www.stats.gov.sa today, 19 January 2023, the real estate price index results for Q4 of 2022.
The general real estate price index for Q4 of 2022 increased by 1.6% compared to Q4 of 2021; this increase is attributed to the increase in residential real estate prices by +2.6%. The increase in residential land prices is the main driver of real estate prices in Q4 of 2022 compared to Q4 of 2021. The residential sector recorded an increase of 2.6%, where the prices of residential land plots went up by 2.7% given the heavy weight of the prices of the residential sector, which had a significant impact on the increase in the general index. As for other residential real estate, the prices of villas increased by 1.7%, and apartments by 2.2%, while house prices decreased by 0.4%. The prices of residential buildings were stable. Commercial sector went down by 0.2%, due to the decrease in the prices of commercial lands by (-0.2%), and the prices of exhibitions decreased by 2.3%, while the prices of commercial buildings remained stable and did not record any relative change. The prices of commercial centers increased by 0.1%, however, the agricultural sector decreased by 0.8%, affected by the drop in agricultural land prices by (-0.8%), according to the publication’s results.
GASTAT is the only official statistical reference for statistical data and information in Saudi Arabia. It carries out all the statistical work, in addition to the technical oversight of the statistical sector. It also designs and implements field surveys, conducts statistical studies and research, analyzes data and information, in addition to documenting and archiving all works of information and statistical data that cover all aspects of life in Saudi Arabia from its multiple sources. Data are written, classified, and analyzed; their indicators are extracted as well.