30.05.2011 - Saudi mortgage sector to reach SR904bln in 10 years
In anticipation of the Saudi mortgage law being approved this year, Credit Suisse forecast in a study that 52 percent of Saudi households pass the affordability threshold/test, and 17 percent would be potential mortgage seekers (average income of mortgage seekers will be SR11,160). It further said the overall size of the mortgage sector could amount to as much as SR904 billion or 23 percent of GDP in 10 years, with our base case assumption at 16 percent of GDP (up from 1 percent currently), estimating "sector penetration to reach 10 percent of GDP in 5-6 years, growing at a 5-year CAGR of 46 percent.".............................................Full Article: Source
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