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FINANCIAL NEWS
Prices of residential units in Jeddah jump by 30pct
25 Aug 2016
(MENAFN) Rental prices of residential units in Jeddah increased to 30 percent, due to the growth in building materials prices, such as steel and cement.
Accordingly, the residential unit price between new and old properties range from SR2.000 to SR5.000 amid the same neighborhood.
The increase was attributed to many reasons, like the dependent on the property sites, the whole area of the apartment and number of rooms and toilets.
In addition, the property owners took advantage of the rise in prices, when they renew the rental prices amid one or two years and increase prices from SR1.000 to SR2.500.
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