In 2016, GEO real property market grew substantially. With a total of 89 120 transactions, the market this year surpassed 2015 by 20.2%. The highest number of sales was registered in AUG-16 & DEC-16, with 8 076 and 8 099 units respectively.
In 2016, 604 new residential buildings with total area of 1.2 million sq.m & 161 new commercial buildings with total area of 0.3 million sq.m have been supplied to the real property market. This represents annual growth of 54.3% by units & 86.8% by area for residential and 12.2% by units and 12.5% by area for commercial real property supply.
Sales Price Index & Rental Price Index for residential properties remained relatively stable throughout 2016, continuously lagging behind the same indices for 2015.