The prices of apartments in Saudi Arabia is growing at the fastest rate in five years, according to a new study from property consultant firm Knight Frank.
Knight Frank highlights in its report today that Riyadh and Jeddah have seen apartment values accelerate by 17 percent and 12 percent respectively, over the last 12 months.
Faisal Durrani, Partner - Head of Middle East Research, Knight Frank, explained: “The government’s drive to boost home ownership rates began in 2016, however house prices only began accelerating in 2019. And in fact, apartment prices in Riyadh have increased by 14.4% since 2019.
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