Despite witnessing a decline of around 20 per cent in the country's residential property prices in 2009, the fundamentals for housing industry in Saudi Arabia continue to remain strong. Presently, Saudi Arabia is suffering from significant housing shortfalls particularly in the middle and lower level income segment. The various factors leading to the shortages of homes in Saudi Arabia are rapid population explosion, rapid urbanization and lagging construction industry. Over the next 20 years, Arabia will require around USD 640 billion in investments to build close to five million new housing units to cope up with the increasing number of expatriates and an influx of nationals from rural areas.
The report entitled Saudi Arabia Housing Sector Growth Opportunities' provides comprehensive analysis on the country's housing sector. The report gives an insight into the various trends and developments that are currently taking place in the country's housing sector and also substantiates the data with necessary statistics. These trends and developments will help the clients to analyze the factors critical to the success of the housing industry in Saudi Arabia. In this way, our report depicts the most impartial picture of the Saudi Arabian housing industry.
Our team of Real Estate experts has studied the positive implications of the much awaited mortgage law on the country's housing sector. Besides this, the team has also identified a number of potential investment destinations in the country. The report also gives a brief overview of the key players in the country's housing sector along with their business overview, key financial statistics and recent developments.
Some of the key findings in the report include:
Housing demand in Saudi Arabia to grow to 5.5 million units by 2014
There is an annual demand of around 30,000 new residential units in Riyadh till 2023
Saudi Arabia is all set to allow foreigners to purchase/own real estate properties as the country seeks new sources of investments
The sharia-compliant mortgage law when implemented will extend the consumer base for the housing industry
