RIYADH: As residential prices continue to rise in Saudi Arabia’s cities, the total transaction value of houses in the Kingdom has increased by 6 percent compared to this time last year, the latest report from global property consultancy firm Knight Frank showed.
The average apartment value has spiked as high as 30 percent in Riyadh over the last 12 months, with some of the well-located suburbs in northern parts of the city seeing rises over 40 percent, as the shortage in housing supply continues to play havoc on prices.
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