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Lack of regulatory framework weighs on Saudi property market

Posted on 20 March 2013

The lack of a regulatory framework in Saudi Arabia’s property market continues to be a major factor contributing to the affordable housing problem in the kingdom, according to a new report by CBRE.
Affordable housing, which remains largely out of reach for the majority of the population, has emerged as the key issue over the past few years in the kingdom’s residential market. About 60% of the Saudi national population lives in rented accommodation, as high land prices make it difficult for developers to meet the price requirements of mid to low-end sectors of society who wish to buy a property, the report said………………………………………..Full Article: Source


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