Saudi real estate sees solid growth
- Saudi Arabia: Monday, June 25 - 2012 at 11:18
Global real estate services firm, Jones Lang LaSalle has said the Saudi real estate market has seen solid growth in the first quarter with the residential prices on the rise in both capital Riyadh and the Red Sea coastal city of Jeddah. Riyadh saw an increase in both sale prices and rental levels across all sectors of residential market with the average sale price for villas increasing to SR4,200 ($1120) per sq m and apartment prices also higher at SR2,600 per sq m, while in Jeddah, the villa prices increased by 11% in prime locations monitored by JLL hitting an average of SR4,600 per sq m with the western region of the city that is closest to the Red Sea remaining the biggest attraction for villas, the report said.
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