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Some 264,000 housing units for Saudis needed yearly until 2020

Posted on 03 December 2012

The Saudi housing market continues to expand on the back of high population growth and increasing availability of financing alternatives. Other key determinants include the increasing kingdom’s GDP, growing Saudi labor force and rising personal income, which all have a direct impact on the housing market. This trend will continue as the Saudi economy is expected to grow by 3.9 percent through 2012, NCB Economist report on the Saudi Housing Sector said Sunday.
Key regulatory initiatives such as the newly passed mortgage law, once implemented, will certainly stimulate the demand for housing in the medium to long-term……………………………………….Full Article: Source


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