The value of residential real estate transactions in Saudi Arabian capital Riyadh fell by 23 per cent in November last year when compared to the previous month, said a report.
 
These transactions included 5,499 buildings valued at SR6.3 billion ($1.6 billion) while the value of acquired land plots amounted to 89 per cent of the total value of real estate transactions, reported the Arab News, citing data released by the Ministry of Justice.

The report was based on a reading of real estate indicators for November last year, based on three factors: the average price per square meter of land, the indicators of the average price of land, and the total value of real estate transactions per month.

There had been a 12 per cent jump in real estate transactions when compared to last year, stated a report released by the Information Department at the Makkah Chamber of Commerce and Industry.

Riyadh topped the real estate liquidity list followed by Makkah city, while Jeddah was third with over SR5 billion ($1.33 billion) worth of trade.