The cost of a three-bed home in Riyadh can cost more than four times that of a similar property in Jeddah, a new real estate price index for Saudi Arabia has showed.

A house costing on average SR292,500 in Jeddah will sell for close to SR1.6m in Riyadh, a difference of 447%, the new market data provided by Dubai-based Cityscape Intelligence revealed.

It said on Wednesday it was launching new statistics which not only compares real estate sales and leasing prices in eighteen areas across Jeddah and Riyadh, but also compares office and residential asset classes, tracking prices back to 2007.