Riyadh June 16 2023: Ejar Index recorded more than 262,000 rental deals in May.
Rental deals rose to the highest level on record. The index included more than 160 cities and governorates that cover most of the Kingdom’s regions, Ejar said in a statement.
Housing rental deals surged 236%, or 203,000 deals year-on-year (YoY), in May. Commercial rentals saw an increase of nearly 210%, or 59,000 deals, YoY.
Riyadh topped the list with the highest number of rental deals in May, recording more than 58,000 housing and commercials deals. It was followed by Jeddah with more than 35,000 housing and commercials deals.
Makkah and Dammam reported more than 12,000 deals. Rental deals in Madinah surpassed 10,000.