The General Authority for Statistics (GASTAT) Wednesday issued the Real Estate Price Index for the third Quarter of 2022 on its official website www.stats.gov.sa. The Real Estate Price Index (RPI) increased by 1.5% in the third quarter of 2022 compared to the same quarter of the previous year, mainly due to the increase in residential real estate prices by 2.5%. Residential real estate prices increased by 2.5% on an annual basis in the third quarter of 2022, affected by the increase in residential land plots prices by 2.6%, which contributed to the rise in the general index, due to its high relative importance in the index. Among other residential real estate prices, the prices of villas increased by 0.2%, and apartments by 1.0%. On the other hand, house prices decreased by 0.7%, while the prices of residential buildings were stable and did not record any significant relative change. Commercial real estate prices decreased by 0.4%, affected by a decrease in commercial land plots prices by 0.4%. The prices of exhibitions also decreased by 1.5%, while the prices of commercial centers increased by 0.2%. However, commercial buildings prices were stable and did not record any significant relative change. Agricultural real estate prices decreased by 0.6%, affected by the decrease in agricultural land prices by 0.6%. The General Authority for Statistics is the only official statistical reference for statistical data and information in Saudi Arabia. It executes all the statistical work, in addition to the technical oversight of the statistical sector. It also designs and implements field surveys, conducts statistical studies and researches, analyzes data and information. This is in addition to the documentation and archiving works of information and statistical data that cover all aspects of life in Saudi Arabia from its multiple sources. — SPA
