Key regions: Europe, Brazil, France, Asia, United States
The Residential Real Estate market in Saudi Arabia has been experiencing significant growth and development in recent years. Customer preferences in the market have shifted towards larger and more luxurious properties. This is due to the increasing wealth and disposable income of Saudi Arabian citizens, as well as the desire for spacious and modern homes. Additionally, there is a growing demand for properties with amenities such as swimming pools, gyms, and green spaces. Trends in the market show a rise in the construction of high-rise buildings and gated communities. This is driven by the need to accommodate the growing population and the desire for secure and exclusive living environments. The development of these types of properties also reflects the changing lifestyles and preferences of Saudi Arabian residents. Local special circumstances in Saudi Arabia have contributed to the development of the Residential Real Estate market. The government has implemented various initiatives to promote the growth of the real estate sector, such as the introduction of mortgage laws and the establishment of real estate financing companies. These measures have made it easier for individuals to purchase properties and have increased the accessibility of the market. Additionally, the government has invested in the development of infrastructure and transportation, which has further stimulated the real estate market. Underlying macroeconomic factors have also played a role in the development of the Residential Real Estate market in Saudi Arabia. The country has experienced strong economic growth in recent years, driven by factors such as increased oil prices and diversification efforts. This has resulted in higher levels of employment and income, which have contributed to the demand for residential properties. Furthermore, low interest rates have made it more affordable for individuals to borrow money and invest in real estate. In conclusion, the Residential Real Estate market in Saudi Arabia has been developing rapidly due to changing customer preferences, local special circumstances, and underlying macroeconomic factors. The market is expected to continue growing in the coming years, driven by the increasing wealth and demand for luxury properties.
Data coverage:
Figures are based on total and average value of residential real estate, residential estate transactions and leases.Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.
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