Real estate market in Jeddah suffering from ”summer recession”
According to Al-Watan newspaper (July 17, 2005), the real estate market in Jeddah has been lately suffering from summer recession whereby the real estate trade declined by 60%. The major real estate investors refrained from doing any big deals since one month. Market analysts say that the real estate investors prefer to make their calculations and to watch the market during the summer. They usually resume their exchange activities with the beginning of the new academic year. The analysts added that the fact that some real estate investors have moved into the stock market in the summer had negative impacts on the real estate trade in the city.
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