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Rents in Jeddah expected to fall 40pct over three years

Posted on 21 January 2013

Real estate businessmen in Jeddah believe that the spiraling trend of house rents will be reversed and rent rates will fall by 40 percent over the next three years. Rents have been rising at unreasonable rates in the past few years and citizens and expatriates with middle and low incomes have been finding it hard to cope with the situation.
A member of the Real Estate Committee at the Jeddah Chamber of Commerce and Industry (JCCI) Awad Al-Dousi attributed the expected drop in rent rates to a recent change in municipal regulations that allow building owners to construct more stories to their buildings………………………………………..Full Article: Source


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