The “Rental Index” revealed that over 240,000 rental transactions were recorded during June, according to reports and data issued by the Electronic Rental Services Network “Ejar” in full integration with the Sakani platform. The index covers more than 160 cities and governorates, encompassing most cities and regions of the Kingdom.

The Rental Index report for June showed a significant increase in the number of residential rental transactions registered in June 2023 compared to the same month of the previous year, with an increase rate exceeding 137% and over 190,000 residential transactions recorded. Additionally, the index documented over 50,000 commercial rental transactions, reflecting an increase of 138% in June 2023 compared to the same month of the previous year.

Riyadh topped the June report as the city with the highest number of recorded rental transactions in the Rental Index, with its total commercial and residential transactions exceeding 54,000 deals. It was followed by Jeddah, which recorded over 32,000 residential and commercial transactions, then Dammam, which documented more than 11,000 transactions. Madinah followed with over 10,500 residential and commercial transactions, while Makkah recorded more than 10,000 transactions. The Rental Index can be accessed through the Sakani platform at: https://sakani.sa/reports-and-data.

The Rental Index is designed to promote transparency and encourage investment in the Kingdom’s real estate rental sector by setting clear rental indicators for cities, neighborhoods, and various property types in both residential and commercial categories. Users can identify price ranges for residential units, search for neighborhoods offering units within a specified price range, review the number of transactions and residential or commercial units in a particular neighborhood during a specific period, view average rental values, and explore transaction price ranges through detailed charts. This effort is part of supporting beneficiaries and improving market efficiency in line with the objectives of the Housing Program—one of the key initiatives under Saudi Vision 2030.

It is also worth noting that beneficiaries of the real estate rental sector can now view the results of broker evaluations on the broker list in the Rental Index, as well as the number of evaluators per broker. Currently, these evaluations are based on landlords’ satisfaction with the broker’s performance and responsiveness during the contract authentication process, and on tenants’ feedback regarding their experience with the broker during the rental agreement signing process and the broker’s ability to clearly explain all terms and conditions.