2023-12-13-莱坊-Saudi_Arabia_Residential_Market_Review_Autumn_2023_1页_80kb

Saudi Arabia Residential Market Dashboard Summary

Key Metrics Q3 2023

Villa & Apartment Sales Prices YoY Change

• Riyadh: Villa +0.5%, Apartment -2.0%
• Jeddah: Villa +5.5%, Apartment +1.6%

Transaction Volumes & Values YoY Change by Unit Type

• Volume (Units) - Residential:
  - Riyadh +59%
  - Jeddah +36%
• Value (Billion SAR):
  - Riyadh +4%
  - Jeddah -16%

Residential Supply & Forecast

• Q3 2023: 362K sqm
• 2023-2025 Forecast:
• 2023F: 1,600K sqm
• 2024F: Up 200-800K sqm depending on DMA
• 2025F: Similar projections to 2023F

Key Highlights

• Total residential transactions (public & private) increased by +6% (41,459 deals) and +4% (SAR 28.3bn) YoY.
• Vision 2030 aims to increase homeownership from 60.6% (2022) to 70% (2030).
• Mortgage-free properties: 36.4%, Mortgages: 18.8%.
• Concerns over rising prices and interest rates impacting affordability and sales activity.