The opening of the metro in Riyadh has led to significant changes in the real estate market of the Saudi Arabian capital. These changes are particularly evident in the increase in prices of villas located near metro stations.
Redaksiya reports that, according to a new study conducted by "Knight Frank", prices of villas near metro stations have increased by up to 78 percent since 2023. This increase clearly demonstrates the impact of the city's transport infrastructure development on the real estate market.
The report titled "The Value of Access: Measuring the Impact of Riyadh Metro on Real Estate" emphasizes that apartment prices are directly related to their proximity to metro stations. Specifically, the report notes that the price of apartments increases by approximately 96 Saudi Riyals (approximately 25.60 US dollars) for every 500 meters closer to a metro station. This is explained by the increased demand for properties around metro lines.
This trend demonstrates the impact of improved transport links on the real estate market in a city undergoing rapid changes within Saudi Arabia's "Vision 2030" program. The opening of the Riyadh metro has not only enhanced the city's transport system but also created new opportunities in the property market.