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January 26, 2024 | Viewed: 316

Real estate in Saudi Arabia (Saudi, KSA)

Hello, dear friends. Today we decided to interview the head of Real East, Vladislav Yablokov. The main question we are interested in is why Realist chose the real estate market in Saudi Arabia?

– The fact is that the real estate market in Saudi Arabia is now of great interest from the countries of the Middle East, because literally just this month was received permission from the government of the country, which allowed foreigners to buy real estate here. And because the market is young and actively developing, it has the potential for very high growth. As you know, in any investment endeavor, the earlier you enter the market, the higher rate of return you can get.

What are the approximate calculations on the profitability of investing in real estate in Saudi Arabia?

– If for example we take the most interesting investment-attractive region of Saudi Arabia, such as the city of Jeddah, we expect a return of about 200-300% in 5 years. The fact is that in Saudi Arabia by law can not resell real estate in a year, two years after purchase. The limit is determined by five years, after which you can withdraw from the investment project.

That is, you can enter the construction, and while the building is under construction this period is already going. In order to begin the procedure for the acquisition of real estate in Saudi Arabia, it is necessary at the first stage to obtain a resident visa, that is, the right to reside in the country.

What is the minimum price now on the real estate market in Saudi Arabia to at least roughly understand? How much does a one-bedroom apartment cost, for example?

– As of today, if we take Jeddah as an example, the minimum down payment is 40% during the construction phase at the excavation. Approximately 14 months is the construction period, and the installment will be limited to the period of construction. As for the cost of the housing itself, a one-bedroom apartment will start at $120,000 American dollars.

And what are the main advantages of Saudi Arabia, apart from economic ones? That is, what else can this country attract?

– It should be said that Saudi Arabia has recently changed its foreign and domestic policy very much. From a country that depended solely on the sale of oil, Saudi Arabia has taken the example of its closest neighbors, such as Qatar and the United Arab Emirates, that is, let’s say, to get off the “oil needle” to a country with a more diversified economy. First of all, with an emphasis on the development of tourism. Today, Saudi Arabia has a very high tourism potential. For example, the same Jeddah is located on the Red Sea coast and in this respect is more interesting even for tourism than, for example, the Arab Emirates.

Dear viewers, if you still have questions, write them in the comments. You can also contact our managers. All the information is in the link under this video and in the text below it. Well, I thank you, Vladislav, for this interview. Thank you.

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