Dammam Emerges as Saudi Arabia’s Fastest-Growing Property Market

Saudi Arabia’s residential property market showed shifting dynamics in Q3, with Dammam emerging as the fastest-growing market, according to a new report by Cavendish Maxwell. Dammam recorded around 3,000 transactions worth SAR3.2 billion, marking a 60% year-on-year increase, driven largely by affordability compared to larger cities. While Riyadh continued to dominate in total value with SAR17.6 billion in sales, annual transaction values declined amid affordability pressures and a government-imposed rent freeze. Jeddah showed signs of stabilization with balanced supply and demand. Analysts note that upcoming foreign ownership laws, White Land Tax reforms, and Vision 2030 infrastructure investments are expected to further reshape Saudi Arabia’s real estate landscape.