In September, the value of real estate transactions in Saudi Arabia surged to approximately SAR 311 billion, representing a remarkable increase of 125% compared to August, when the total was SAR 138 billion.

The total area of traded properties for September reached about 1.16 billion square meters, an 88% rise from the 614 million square meters recorded in August.

The month saw 61,900 real estate transactions involving 59,100 properties, slightly up from August’s 61,500 transactions and 58,000 properties, as reported by the real estate exchange.

The average price per square meter for properties in September was SAR 7,286, an increase from SAR 6,484 in August. Notably, the highest recorded price per square meter in September reached SAR 1 million, compared to SAR 3.1 million in August.

This data underscores a diverse array of transaction types, including sales, gifts, mortgage sales, financed transactions, liens, lien releases, subdivisions, mergers, and modifications, reflecting a dynamic and expanding real estate market.