(MENAFN)JLL reported that prices in the Saudi capital increased in the first three months even as rental volumes eased.

According to the broker, Riyadh’s residential sale prices recorded an improvement of 2 percent for apartments and villas. However, rental rates marked yearly drops of 1 percent for apartments and villas, it further declared. About 7,700 homes were handed over in the stated period.

JLL also reported that ''Looking ahead, the government initiatives that are pushing Riyadh to be the business hub of the region are expected to spur local and international demand.”

Good government hold up contributed to increase demand for residential property in the first quarter months of the year.