A recent report from Knight Frank indicates a significant surge in residential transaction volumes in Saudi Arabia over the past twelve months, with total transactions nearing 46,000 and a remarkable 25% increase in overall value, exceeding 35 billion riyals.

Mohammed Ayatani, Partner in Sales and Marketing at Knight Frank Saudi Arabia, stated that property prices in Riyadh have escalated by approximately 50% over the last three years. He attributed this rising demand to the objectives of Vision 2030, emphasizing that the current developments coincide with an influx of expatriates into Saudi Arabia, particularly in Riyadh, which has emerged as the leading city for real estate growth in the Kingdom.

Ayatani further noted that the growing population in Riyadh, along with internal migration trends, has contributed to increasing property prices across Saudi cities, with Riyadh experiencing more substantial growth compared to other major cities such as Jeddah, Makkah, and Madinah.

The Knight Frank report also highlights that all major Saudi cities have observed positive year-on-year changes in both the volume and value of residential transactions, with the sole exception of Makkah. Notably, Riyadh has seen significant growth, with overall sales volume and value increasing by 16% and 41%, respectively.

Currently, the residential inventory in the five primary markets of the Kingdom stands at 3.5 million units. Knight Frank projects this figure will rise to approximately 3.7 million units by the end of 2026, reflecting a robust growth outlook for the Saudi real estate sector.