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Saudi homes market hurt by barriers to mortgages

Posted on 22 March 2012

Saudi Arabia’s mortgage market is the least developed among the six Gulf Cooperation Council states almost a year after advisers to the king approved an overhaul of the mortgage law, CBRE Group Inc. said.
“Saudi Arabia has the largest real estate market in the GCC, but the least developed mortgage market,” CBRE said in a report today. “This has resulted in a shortage of owner- occupied residential housing, particularly at the lower end of the income scale.”……………………………………….Full Article: Source


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