Is Saudi Arabia a Good
authorShannon Correia
dateApril 24, 2021
In this article, we’ll be looking at the real uk email address list estate market in Saudi Arabia to unpack whether its a good market for sales and investments. We’ll be looking at the effects that the pandemic has had, the economic outlook of the country, and its plans for development.
The Housing Market Meets the Pandemic
With lower oil prices and the e COVID-19 pandemic, Saudi Arabia is facing a weak housing market. This plunge came into effect in 2020. The real estate index rose in 2020 as noted in KSA’s General Authority for Statistics (GAStat), however these prices actually fell when you take into account the adjustments made for inflation. GAStat was launched by the Ministry of Justice in 2017, using data from real estate sales.
The housing market has seen dips in 2017 and again just before 2019, followed by quick recoveries. This indicates a relatively unstable market, yet one that is resilient and can regain its position of strength in the near future. However when one looks at the last few years, housing prices have fallen by over 18% between 2014 and 2019. The economy and oil prices have contributed to this over the years. The decline in pricing per barrel began in 2014, met with KSA’s struggles to maintain its global marketshare.