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Housing demand is generated by local buyers and not foreign investors in Kingdom

Posted on 17 December 2010

From Arabnews.com: Saudi Arabia’s real estate market is large and fast-growing. It is ten times bigger than any other Gulf market, but remains underdeveloped, with the balance of estimates suggesting that just 30 percent of Saudis own their own home.
Freehold ownership is currently legally confined to Saudi nationals, though foreigners can buy leasehold property in designated developments. The key characteristic is that demand is primarily generated by local buyers and not foreign investors, according to Samba Financial Group’s report “Saudi Arabia’s Housing Market: Structural Issues, Financing, and Potential”, issued on Wednesday……………………………………….Full Article: Source


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Laxman - who has written 28515 posts on Opalesque Real Estate Briefing.


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