Jeddah Real Estate Market Report | KPMG | SA

Jeddah Real Estate Market Report

Jeddah Real Estate Market Report

Jeddah expects an additional supply of 30,000 residential units by 2020

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Jeddah Real Estate Market Report

We are pleased to inform you that KPMG have published a comprehensive and insightful

report analyzing Jeddah’s Real Estate market in 2017.

The report highlighting the economic outlook for the residential, retail, office and hospitality sectors.

Please find here below some of the Report Highlights:

  • Jeddah expects an additional supply of 30,000 residential units by 2020 with majority of the new supply focused
    towards the north and east sides of the city.
  • Rentals of residential apartments dropped by 10-15 percent in Jeddah because of the departure of families of expatriates. Sale prices and rental rates of residential villas continued to decline during 2017.
  • The performance of the retail sector remained subdued in 2017 and market has witnessed a modest decline of 4 - 5 percent in rentals. Rentals and occupancy rates of the office sector have also dropped over the past year.
  • Performance of hospitality sector has softened in 2017 and both the occupancy rates and the Average Daily Rates (ADR) witnessed a declining trend. - The market has witnessed a decline of approximately 8 percent in occupancy rate, while ADR remained relatively stable, dropping only 2-3 percent.

We welcome the opportunity to discuss how it relates to your organization in further detail.

 

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