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20-01-22
Saudi’s residential land costs cause property prices to soar
(MENAFN) Based on data by Gastat, a surge in residential land costs drove property costs in Saudi Arabia to increase by a yearly ratio of 0.9 percent during the period from October till December of 2021.
This is the top level since the period from January till March of the year that precedes it as costs of residential land plans soared, making the sub-index of residential property prices to jump by 1.7 percent.
Other parts of this sub-index – which involves prices of buildings, villa, flats and houses, all wnt through negative inflation.
In the meantime, commercial and agricultural property costs dropped from the year earlier by 0.7 percent and 0.2 percent, in that order, matching the influence on the total index.
MENAFN20012022000045013568ID1103567399
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