The number of completed housing units in Saudi Arabia increased 1.75 percent to 82,500 units during the first quarter of this year, compared to 81,100 units in Q4 2019, revealed the Housing Ministry’s periodic housing bulletin.
The number of housing units that began construction during Q1 2020 increased 17.01 percent to 85,900 units, compared to 73,400 units in Q4 2019, it added.
The bulletin also pointed to a slight increase of 0.8 percent in the housing sector price index during Q1 2020, compared to the Q4 2019. Land option prices increased by a similar rate of 0.8 percent, while the price index for villa options rose 1.5 percent in Q1 2020, compared to Q4 2019.
Further, the Estate Contributions Commission (Tasfiah) announced that it will put up for sale 377 plots, estimated at around 21 million square kilometers, in several cities across the Kingdom for commercial, housing or land uses.
Moreover, Saudi Arabia's Sakani program revealed that a total of 19,800 households benefitted in May from its various housing solutions and options. Among them, 10,700 families moved into their houses. This brings the total of households who benefited from all options since the beginning of 2020 to 150,300, including 53,800 who moved into their houses.
