Saudi Arabia, new hardship for residents

House rents in Saudi Arabia increased by 15.6 percent during the last month of November, which is the largest increase in recent years.

According to Arab media, house rents recorded a 13 percent year-on-year increase in October, which rose to 15.6 percent a month later, marking the biggest increase in house rents in recent years.

According to the report, the main reason for the increase in house rents is the increasing demand for rental houses, and the second reason is the rapid development of the Saudi economy.

According to a local website, the rent index for flats was recorded at 85.16 percent in the month of November as against 73.61 percent in November 2021 last year. Bungalow rents increased by 8.6% during November 2022. Thus, its index reached 91.12 points while its index was 83.89 points during November 2021.

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