Saudi residential property transactions down 21pc in Q2

Summary:

Saudi Arabia's real estate transaction volumes increased slightly in the second quarter compared to the previous quarter, though overall activity remained low. According to Al Rajhi Capital, residential transactions fell 21% year-on-year, with significant declines in Riyadh (34%), Jeddah (16%), Madinah (11%), and Makkah (8%). Additionally, land transaction volumes decreased by 42% year-on-year, indicating weakened market activity, particularly in Riyadh.