Saudi Arabia is reportedly experiencing a boost in demand for real estate due to a steadily growing population and a rise in tourism . As the market levels out in the Kingdom’s In addition to these factors , this report claims that the dynamics of the market may be changed substantially , through the implementation of a rule that imposes fees on undeveloped or white land within city boundaries , which will encourage more residential development . However , the market is still likely to be focussed around a relatively small group of high net worth individuals , and although the current regime aims to make the housing market more accessible for the average buyer , these attempts are likely to face significant challenges , and do not have much chance of success in the short term .
Saudi Arabia is reportedly experiencing a boost in demand for real estate due to a steadily growing population and a rise in tourism . In addition to these factors , this report claims that the dynamics of the market may be changed substantially , through the implementation of a rule that imposes fees on undeveloped or white land within city boundaries , which will encourage more residential development . However , the market is still likely to be focussed around a relatively small group of high net worth individuals , and although the current regime aims to make the housing market more accessible for the average buyer , these attempts are likely to face significant challenges , and do not have much chance of success in the short term .