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Want of affordable housing still besets Saudi home ownership

Posted on 01 October 2012

The lack of affordable housing continues to be a challenging issue, which has limited home ownership for Saudis, as renters account for the largest share of the population at nearly 60 percent, the National Commercial Bank said Sunday in its “Saudi Housing Review” for the month of September 2012.
“The lack of affordable housing continues to be a challenging issue, especially the limited ownership of modern homes (villa) by Saudis. In addition, the artificially high prices of land plots, which are increasingly sought after in the Kingdom as a long-term investment option by high net worth Saudis, are accessibly limited to Saudi citizens and home developers.”……………………………………….Full Article: Source

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