The average selling price of real estate in Jeddah last week decreased by 58% compared to the previous week, while the average price of real estate across the kingdom saw a slight decline of about 7%.

The weekly monitoring of real estate exchange data by 'Akhbar 24' showed that 3,817 real estate transactions were executed nationwide last week, with a value exceeding 2.2 billion riyals and an average selling price of 102 riyals per square meter, compared to 3,613 transactions worth over 2 billion riyals and an average selling price of 109 riyals per square meter in the previous week.

549 transactions worth over 724 million riyals in Jeddah

Riyadh last week saw 9 transactions worth 7.2 million riyals, with an average price of 3,208 riyals per square meter, after Riyadh transactions were absent from the real estate exchange for the past three weeks due to the transfer of documentation for transactions in most neighborhoods of the capital to the real estate registry.

Meanwhile, Jeddah last week executed 549 transactions worth over 724 million riyals, with an average price of 1,371 riyals per square meter, compared to 488 transactions worth 695 million riyals and an average price of 3,275 riyals per square meter in the previous week.

Transactions in Makkah last week reached 167 transactions, valued at approximately 114 million riyals, with an average price of 1,919 riyals per square meter, compared to 133 transactions worth nearly 132 million riyals and an average price of 2,070 riyals per square meter in the previous week.

Madinah recorded 219 transactions worth 140 million riyals last week, with an average price of 491 riyals per square meter, compared to 203 transactions worth nearly 189 million riyals and an average price of 457 riyals per square meter in the previous week.

In Dammam, the number of transactions last week reached 133 worth over 127 million riyals, with an average price of 718 riyals per square meter, compared to 157 transactions worth 174 million riyals and an average price of 269 riyals per square meter in the previous week.

Abha last week saw 53 transactions worth nearly 47 million riyals, with an average price of 1,976 riyals per square meter, compared to 63 transactions worth over 35 million riyals and an average price of 1,419 riyals per square meter in the previous week.

Tabuk recorded 58 transactions worth about 29 million riyals last week, with an average price of 1,248 riyals per square meter, compared to 51 transactions worth about 19 million riyals.

The list of the most traded neighborhoods across the kingdom during the week was topped by Al-Matar district in Al-Bayda governorate in the Eastern Province with 239 transactions, followed by second place by schemes outside neighborhoods in Al-Jalla and Tabrak with 133 transactions, third place by Al-Yasmine district in Qurayyat with 56 transactions, while Al-Sharqiya district in Taif took fourth place with 48 transactions, and Al-Salama district in Jeddah came fifth with 31 transactions.