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Riyadh house prices rocket 90 percent

Posted on 09 October 2008

From Arabian Business: House prices in Riyadh rocketed by as much as 90 percent in the first half of this year, Global Property Guide said.The property information firm said Saudi Arabia was currently going through a real estate boom, fuelled by record oil revenues, with house prices in Riyadh and Makkah seeing the most significant jump.

Global Property Guide said the price of land in the Saudi capital currently ranges from 400 riyals ($107) per square metre to 4,000 riyals per square metre, compared to just 156 riyals per square metre five years ago….. Full Article: Source


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