2025-07-11-莱坊-Saudi_Arabia_Residential_Market_Review_Winter_2024-25页_4页_8mb

Saudi Arabia Residential Market Review (Winter 2024-25)

Riyadh Key Trends

• Apartment prices increased by 10.6% in 2024, while villa prices grew by 6.3%.
• Total residential transactions volume rose by 38% year-on-year (YoY) to 202,661 deals, with a value increase during the same period.
• Housing supply expanded by 49,400 units in 2024, contributing to a potential reshaping of demand.
• Population growth is projected to intensify demand, with government plans for 330,000 new units by 2030 supporting higher homeownership rates.

Jeddah Key Trends

• Jeddah's residential market experienced the highest growth nationally, with transaction volumes up 53% and values rising 43%.
• Driven by factors such as reduced bank down payments for Saudi nationals and key infrastructure investments, apartment prices increased by 3.1%, and villa prices by 1.7%.
• New supply pipeline includes projects like Venan Housing (1,708 units), Telal Goroob (3,392 units), and Sama Jeddah Housing Project (858 units).

Dammam Metropolitan Area (DMA) Key Trends

• Transaction volumes surged by 49%, and values increased by 44% in 2024.
• Apartment prices rose by 6.2%, with villa prices increasing by 2.7%; Khobar remains a top-performing area.
• New developments include Tilal Real Estates' Heart of Khobar project, enhancing the housing stock and urban mobility.

Makkah Key Trends

• Market saw volumes increase by 12% and values by 10%; apartment prices rose minimally, while villa prices declined slightly.
• Factors include pilgrim influx driving short-term rental demand and new affordable housing projects.
• Total housing stock expected to grow by 5.6% by 2027, partly from projects like Makkah Gate.

Madinah Key Trends

• Transaction volumes and values experienced significant growth of 45% and 29%, respectively, in 2024.
• Apartment prices increased by 6.6%, with villa prices stable; new developments are contributing to supply growth, projected from 7,040 units in 2024 to about 20,560 more by 2027.

This summary captures the key performance indicators and growth trends in major Saudi metropolitan areas, highlighting the impact of economic policies and development projects.