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FINANCIAL NEWS
Saudi markets suffer as real estate slowdown goes on
27 Jul 2016
(MENAFN) Saudi’s real estate markets in Riyadh and Jeddah cities continue to face an overall slowdown in performance, according to a JLL report.
JLL, a leading global real estate investment and advisory, firm said its Q2 2016 Riyadh and Jeddah Real Estate Overview reports assessing the latest trends in the office, residential, retail and hotel sectors.
The incessant drop in residential transactions (with sale volumes down a further 5 per cent this quarter) shows the pace of demand growth is certainly now slowing, the report added.
“We have witnessed a general softening of the residential market this quarter, with a marginal decline in rentals in Riyadh and sale prices in Jeddah. national director and country head of JLL Saudi Arabia, said.
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