Riyadh recorded a significant increase in registered rental transactions within the Rental Index, ranking as the highest city in terms of authenticated contracts in the Electronic Rental Services Network “Ejar” for the second consecutive month, according to the second Rental Index report for March 2022.

Riyadh topped the Rental Index report for residential rental contracts as the leading city for recorded rental transactions, accounting for over 31% of total transactions. It was followed by Jeddah Governorate, which recorded more than 19%, while Dammam ranked third with 6%. Makkah followed with over 4%, while both Madinah and Khobar came close, each accounting for over 3% of residential rental contracts.

For commercial rental contract transactions, Riyadh also ranked first among cities in the Kingdom, holding nearly 32% of commercial rental contracts in March. Jeddah Governorate followed with over 14%, while Dammam, Madinah, and Makkah were close in numbers of commercial rental contracts, each exceeding 4%, and Khobar came last with nearly 3%.

These figures are based on residential and commercial rental contracts concluded during March and authenticated in the “Ejar” network, distributed among the cities covered by the Rental Index. The total number of residential rental transactions surpassed 139,000 contracts, while commercial rental transactions exceeded 46,000 contracts.

The Rental Index aims to enhance transparency and stimulate investment in the Kingdom’s rental real estate sector by setting precise rental indicators for cities, neighborhoods, and various property types across both residential and commercial sectors. 

The service enables users to identify the Residential Rental Index for average rental prices, including types of residential units such as apartments, villas, and floors, as well as the Commercial Rental Index, which provides average square meter prices for commercial units such as shops, showrooms, and offices. This helps users obtain more precise results in their search and selection processes.

These indicators aim to empower beneficiaries by providing access to suitable rental options that meet their needs and streamline their search efforts within the cities and neighborhoods covered by the “Rental Index” service. The system allows users to specify time periods for their search and benefit from interactive maps. The service is available through the “Sakani” platform at: https://sakani.sa/reports-and-data