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  • 09-01-23

    Real estate action in Saudi Arabia falls 53.7 percent throughout 1st week of this year

    (MENAFN) Saudi Arabia’s real estate industry action has seen a 53.7 percent fall throughout the opening week of this year, as an outcome of feeble liquidity flows because of the high interest levels.

    The trend carried on from the last week of last year when the nation’s real estate action fell 1.8 percent taking the overall worth of market transactions to a rate under SR2.1 billion (USD558 million), as reported by Al Eqtesadiah.

    The worth of transactions in the housing industry also dropped throughout the opening week of this year by as much as 47.5 percent, in spite of recording an expansion of 19 percent throughout the prior week.

    This drop in real estate action is majorly triggered by feeble liquidity flows to its major industries, as an outcome of the peak interest rates as well as the subjection of evaluations of numerous real estate assets by the two financers and costumers.

    MENAFN09012023000045014228ID1105399728

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