GASTAT Publishes Real Estate Price Index for Q4 2024

The General Authority for Statistics (GASTAT) today released the Real Estate Price Index report for Q4 2024, showing a 3.6% increase compared to Q4 2023, driven by a 3.1% rise in residential property prices, a 5% increase in commercial property prices, and a 2.8% rise in agricultural property prices.
 The report also revealed a quarter-on-quarter increase in the Real Estate Price Index of 1.6% during Q4 2024 compared to Q3 of the same year. The quarterly property index was influenced by a 1% rise in residential property prices, a 2.7% rise in commercial property prices, and a 9.8% increase in agricultural property prices.
 GASTAT's findings highlighted a %5.0 increase in commercial property prices during Q4 2024 compared to the same quarter in the previous year, primarily driven by a 5.2% rise in the prices of commercial land plots and a 5.1% increase in the prices of commercial buildings, while showroom prices decreased by 1.7%.
 The results also showed a 2.3% annual increase in the overall Real Estate Price Index for 2024 compared to 2023. The residential sector recorded a 1.0% rise, the commercial sector grew by 6.1%, and the agricultural sector, represented by agricultural land, increased by 1.4%.
 The Real Estate Price Index is a statistical tool designed to measure the relative change in real estate prices across the Kingdom.