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Property sales in Saudi falls by 21pct in June
(MENAFN) Whole property sales in KSA slumped 21 percent year on year to USD3.066bn amid June, according to a report in a regional Arabic newspaper.
Additionally, the fall in sales is due to the drop in residential property segment, where sales fell by 29 percent to 6.5bn Saudi riyals in the cited month.
Meanwhile, the biggest selling area of residential sales was in Riyadh, with 2.1bn Saudi riyals in sales posted amid the month, trailed by Makkah at 1.3bn Saudi riyals.
Furthermore, the real estate market is still in the correction phase and will maintain a downward trend until 2019.
Additionally, the fall in sales is due to the drop in residential property segment, where sales fell by 29 percent to 6.5bn Saudi riyals in the cited month.
Meanwhile, the biggest selling area of residential sales was in Riyadh, with 2.1bn Saudi riyals in sales posted amid the month, trailed by Makkah at 1.3bn Saudi riyals.
Furthermore, the real estate market is still in the correction phase and will maintain a downward trend until 2019.
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