The real estate index in cities such as Makkah, Madinah, Buraidah, Jubail and Hafr Al-Baten registered a drop while the index in Riyadh, Dammam, Qatif, Jazan, Alkhobar and Yanbu showed a rising tendency last week.
The indexes were recorded at notary offices in various cities of the Kingdom and collected and published by the Ministry of Justice, SPA reported yesterday.
The Makkah Notary Office 1 showed a 88.16 percent drop with the total value crossing SR 222.7 million. The Madinah Notary Office also registered a fall with 66.8 percent. The total value of the index in Madinah stood at more than SR 120 million. The drop showing in Buraidah Notary index was 1.43 percent with a total value of over SR 115.8 million.
While the Jubail Notary index recorded a decrease of 23.58 percent with SR 31.3 million, Hafr Al-Baten registered 49.2 percent fall in the index with the total value exceeding SR 146.3 million, the report said.
On the other hand, the Riyadh Notary Office 1 registered a 193.8 percent rise in the index with the total value crossing the SR 2.5 billion mark.
In Dammam the rise in the index was 15.7 percent with the value totaling nearly SR 278 million.In Jazan, the Notary Office showed the real estate index rising by 198.89 percent as the total value reached SR 113 million.
The rise registered at the Yanbu Notary was 4.04 percent with the total value exceeding SR 44.6 million.
The index in Qatif noted a rise of 16.36 percent with the value of deals reaching SR 143.1 million while in Alkhobar the index rose by 169.01 percent with the total value above SR 256.5 million.
Real estate index reflects volatility across Saudi cities
