The Saudi real estate price index fell 1.6 percent year-on-year (YoY) in the second quarter of 2018 to 83.6 points, from 84.9 a year earlier, data issued by the General Authority for Statistics (GASTAT) showed.
The base year for the index is 2014 (100 base points).
The real estate index comprises three segments: Residential sector, which covers residential land plots, buildings, villas, apartments, and houses; the commercial sector, which covers commercial land plots, buildings, shops and malls; and the agricultural sector that covers agricultural land.
Prices of all segments fell for the quarter, except for shops in the commercial sector.
The commercial sector led the decline by a 2.5 percent decrease in Q2, followed by residential sector at 1.2 percent, and agriculture sector by 0.3 percent.
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