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Market bubble unlikely to happen in Saudi real estate

Saudi Arabia - July 2, 2015
KSA construction

A report issued by Jones Lang Lasalle precluded the existence of a real estate bubble or any dramatic change in the Saudi real estate market in the near future, the report was published by Construction Week Online website.

The report referred to the difficulty of any change in the shadow of the increasing growth and the development of national economy in general.

It returned the economic positive activity to the significant drivers in the market like population growth and increased religious and local tourism which stimulate residential and hospitality sectors.

Majority of Saudis complain about the land plots high prices which resemble 60% of construction costs and rents hike by 100% in the latter period.

 

 

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