Via Sapna Jagtiani in spglobal.com: Residential real estate prices and rents continue to soar in Saudi Arabia. The cities of Riyadh and Jeddah saw year-on-year sales prices jump by 10% and 5%, respectively, in the first half of 2024, according to property consultancy company JLLs KSA Market Dynamics Report H1 2024. Rental yields also remain high, with year-on-year growth of 9% in Riyadh and 4% in Jeddah. The total number of real estate transactions across all asset classes surged by 38% to just over 106,700 in the first half of 2024, while their total value leapt by 50% to Saudi riyal (SAR) 127.3 billion, according to global real estate company Knight Franks Saudi Arabia Residential Market Review – Summer 2024.
