24 Hrs
Source:
الوئام
Ownership Debate Settled Villas Drop 7.7 Percent
Official data showed that the prices of residential villas in Saudi Arabia decreased by 7.7% year-on-year, with a monthly decline of 0.4%. This reflects a shift in the real estate market toward preferring ready-made units over direct construction. Meanwhile, construction costs increased by 2.2% annually, highlighting a significant gap between rising building costs and selling prices, with the gap reaching approximately 9.52 percentage points. This disconnect between construction costs and property prices is driving Saudi families to favor purchasing ready-made properties, considering it a more cost-effective and time-efficient option.
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