Saudi Arabia

Saudi Arabia's Residential Property Market Analysis 2025

Lalaine C. Delmendo

Saudi Arabia's housing market is experiencing steady growth, driven by a surge in property demand from both Saudis and expatriates.

Table of Contents

Housing Market Snapshot

The Kingdom's real estate index for the residential sector rose by 3.1% during the year to Q4 2024, up from y-o-y increases of 1.6% in the previous quarter and 1.1% in the same period in the prior year, according to the General Authority for Statistics (GAStat). When adjusted for inflation, prices were up slightly by 1.2% y-o-y in Q4 2024.

Saudi Arabia's house price annual change

Quarter-on-quarter, residential property prices rose by 1% in Q4 2024 (0.5% inflation-adjusted).

By property type:

  • Apartments: prices increased by a modest 2.9% y-o-y in Q4 2024 (1% inflation-adjusted), in contrast to a 1% decline in the prior year.
  • Villas: prices increased by 6.5% y-o-y in Q4 2024 (4.5% inflation-adjusted), an improvement from the prior year's 4.4% growth.
  • Single-floor residential buildings: prices fell slightly by 0.7% in Q4 2024 (-2.5% inflation-adjusted), following a 0.8% decline in Q4 2023.
  • Residential lots: prices rose by 2.5% during the year to Q4 2024 (0.6% inflation-adjusted), up from an increase of 1.2% a year earlier.

Nationwide house prices have fallen by 18.2% (-20.4% inflation-adjusted) from 2014 to 2019, amidst weak economic growth and low oil prices. It was fully offset by the cumulative price growth of 26.7% (17.4% inflation-adjusted) from 2021 to 2024.

The real estate index indicator released by GAStat was launched in April 2017, based on the available registry data of real estate transactions from the Ministry of Justice.

Saudi Arabia Residential Real Estate Price Index graph

Demand is surging. During 2024, real estate transactions in the Kingdom hit a record-high SAR 2.5 trillion (US$533 billion), with over 622,000 deals covering approximately 5.8 billion square meters, according to the Saudi Ministry of Justice. Accordingly, more than 520,000 properties were traded last year.

"Several key factors are signaling positive prospects in the Saudi residential market in the long term. These include the country's young, expanding population and the ambitious economic diversification plans under Vision 2030. Moreover, government initiatives like the Sakani program and the Real Estate Development Fund, are making homeownership more accessible to a broader segment of buyers," said JLL MENA's Q3 2024 report.

Standard & Poor's predict that the real estate market's contribution to KSA's economy will grow from 5.9% last year to about 10% by 2030, buoyed by a significant growth in real estate financing.

"The ongoing rapid urban and infrastructure development of the kingdom are creating new hotspots for development and reshaping residential preferences, positioning the residential market for significant growth in the long term," added the JLL report.

Despite this, the overall economy is underperforming. Saudi Arabia's economy grew by a meager 1.3% in 2024 from a year earlier, following a contraction of 0.8% in 2023 and annual expansions of 7.5% in 2022 and 5.1% in 2021, according to GAStat. Last year's growth was buoyed by the continued expansion in the non-oil sector.

In 2024, the non-oil sector grew by 4.3%, while oil activities contracted by 4.5% and government activities expanded by 2.6%.

The International Monetary Fund (IMF) has recently revised Saudi Arabia's 2025 growth forecast downward to 3.3% from its earlier projection of a 4.6% expansion, primarily due to prolonged oil production cuts.

The Saudi unemployment rate stood at 7.8% in Q3 2024, up from 7.1% in the previous quarter but down from 8.8% a year earlier, according to GAStat. Though, the overall unemployment rate, which includes Non-Saudis, is low at 3.7% in Q3 2024.

The Kingdom's inflation rate was manageable at 1.9% in December 2024, slightly down from 2% in the previous month but up from 1.5% in the prior year. The nationwide inflation rate averaged just 1.6% in the past decade.

Saudi Arabia GDP Growth and Inflation graph

Demand Highlights:

Sales reached record-high levels

Real estate transactions in the Kingdom hit a record-high SAR 2.5 trillion (US$533 billion) in 2024, with over 622,000 deals covering approximately 5.8 billion square meters, according to the Saudi Ministry of Justice. Accordingly, more than 520,000 properties were traded last year.

Last year's total transaction value surged from just SAR 193.5 billion (US$51.59 billion) in 2023 and SAR216.7 billion (US$57.77 billion) in 2022.

Real estate expert Ahmed Al-Faqih called the 2024 market surge expected, citing investor incentives and Saudi Arabia's success in hosting major global events, making it a top investment destination.

The housing market is projected to sustain its growth in 2025 and beyond, drawing more investment and large-scale projects.

Saudi Arabia Real Estate Deals graph

Tax relief for homebuyers

On 22 September 2024, Saudi Arabia approved the Real Estate Transaction Tax Law (RETT) through Royal Decree M/84. Effective from April 9, 2025, the law introduces clearer regulations, additional exemptions, and updates to tax calculations. It includes exemptions for mergers, acquisitions, public subscriptions, and investment fund units. Penalties for late payments have been reduced to 2% per month, capped at 50% of unpaid tax. The law aims to improve tax clarity, efficiency, and compliance in Saudi Arabia's real estate sector.

Prior to this, in October 2020, the government strengthened its efforts to boost the housing market:

  • All property deals have been exempted from the 15% value-added tax (VAT), and instead subject to a new 5% tax on transactions.
  • The threshold for the tax exemption for first-time homebuyers was increased to SAR 1 million (US$266,599) from SAR 850,000 (US$226,609).

These moves support Crown Prince Mohammed bin Salman's Vision 2030 of increasing homeownership to 70% by end-2030.

Expat workers continue to buoy the housing market

Saudi Arabia's expatriate population, which recently reached 13.4 million, plays a significant role in the Kingdom's real estate market. Expatriates are driving demand for both residential and commercial properties, especially in major cities like Riyadh and Jeddah.

In an effort to improve labor market attractiveness, Saudi Arabia eased foreign workers' contractual restrictions five years ago, including the freedom to change jobs. The reforms, which took effect in March 2021, gave non-Saudi workers the right to change jobs by transferring their sponsorship from one employer to another and permit them to leave and re-enter the Kingdom and secure final exit visas without the consent of their employer.

Then in January 2025, Saudi Arabia announced that foreign investors could participate in companies owning real estate in Mecca and Medina. This policy aims to attract international capital and enhance the liquidity of projects in these cities, which are central to the Kingdom's religious and economic activities.

The Kingdom's efforts to attract foreign investment and diversify its economy are expected to continue influencing the real estate market dynamics in the coming years.

The Saudis have been encouraging residential investment

Mindful of the lessons of the 1970s to early 1980s, the Saudis have in recent years spent their petrodollars cautiously, reinvesting a large portion of the windfall into real estate and encouraging foreign investment.

After a deep recession in the 1990s, a Foreign Investment Law was passed in April 2000 to encourage a service-oriented economy. Legally resident non-Saudis were allowed to own a private residence by a new Real Estate Law, except in Mecca and Medina, provided they obtained a license from the Ministry of Interior. They can also own real estate to conduct business and accommodate employees, again with Ministry of Interior permission. To prevent speculation, five years must elapse before a property can be sold.

From 2002 to 2005, house prices rose by 13.7% annually while average land prices rose 16.5% per year, according to the National Commercial Bank Capital (NCBC).  Residential property prices continued to rise from 2006 to 2013, albeit at a much slower pace.

As the economy slowed between 2016 and 2019, the housing market also weakened. However, in recent years, it has rebounded rapidly as the economy recovers from the impact of the Covid-19 pandemic.

The housing market has been steadily driven by affluent Saudis. Over the past two decades, Saudi Arabia's GDP per capita (PPP) has grown by 67%, increasing from $37,836 in 2004 to $63,118 in 2024.

Saudi Arabia GDP Per Capita graph

Supply Highlights:

Major real estate developments

The Kingdom is preparing new real estate projects that will be built through public-private-partnerships as part of its Vision 2030. These projects include mega-developments: NEOM, the Red Sea Project, Qiddiya, and Amaala.

The urban project NEOM is a 26,500 sq. km. planned mega-city and business zone worth US$ 500 billion, which will be located on the Red Sea near Saudi Arabia's northeast border with Jordan and Egypt. This was unveiled by Saudi Crown Prince Mohammed bin Salman bin Abdulaziz in October 2017 during a Public Investment Fund (PIF) conference. Saudi Arabia has announced its goal to complete a 5 km central section by 2030, with the full project now expected to be finished by 2045.

Another ambitious project, the Red Sea project, had its masterplan approved in January 2019. This development by The Red Sea Development Company (TRSDC) is a 34,000 sq. km. tourism center located between the cities of Umluj and Al-Wajh, which includes around 10,000 hotel rooms. The project's Phase 1 was officially completed in 2023. This phase includes the development of key infrastructure such as the construction of the Red Sea International Airport, as well as the first luxury resorts and accommodations. The whole project is expected to be completed in 2030 with 50 resorts.

Qiddiya Entertainment City is a 334 sq. km. entertainment development located 40 km from Riyadh city center that will feature a Six-Flags-branded theme park, along with other leisure facilities and hotels. The project's construction commenced in 2019 and is expected to be completed in 2039. It aims to house over 500,000 people when completed.

The Kingdom is also setting up a wellness tourism destination called Amaala. This 3,800 sq. km. development will be built on the Kingdom's northwestern coast and will consist of about 2,500 luxury hotel rooms, 200 retail establishments, 700 villas, a dedicated airport, marinas, and art galleries. The first phase of Amaala is expected to be completed by mid-2025, with the entire project to be finished by 2039.

Other residential construction projects in the Kingdom, either recently completed or currently ongoing, include: Thakher City Residential Towers (2,750 apartments); Jeddah Gate (4,000 apartments); Rafal Sky Gardens (286 apartments; ETLAL Residence (182 apartments); Jabal Omar Development (509 apartments); Jeddah Tower (500 apartments); and Saudi Aramco - Fadhili Residential Compound - Housing Package (2,000 villas).

Saudi Arabia also has other construction projects, aiming to improve infrastructures, diversify its economy, and raise the citizens' living standards. The Kingdom's other top construction projects, among many others, include:

  • The Riyadh Metro (full operation is set for 2025)
  • Riyadh Rapid Bus Transit System (first phase officially began operations in 2023)
  • Jeddah Tower (expected to be completed around 2027)
  • The third expansion of Makkah Grand Mosque (while most of the work has already been completed, it is expected that the full third expansion will be completed around 2026-27)
  • Expansion of the King Fahad Medical City (expected to be completed around 2026-27)
  • King Abdullah Bin Abdulaziz Medical Complexes (expected to be completed in the next two to three years)
  • King Salman Energy Park (Spark) (Phase 1 is expected to be completed by 2025)

Housing supply continues to rise

Housing supply continues to rise in Riyadh and Jeddah, according to a Q3 2024 report published by Jones Lang LaSalle (JLL).

  • Riyadh's housing stock increased to 1.46 million units, with nearly 4,000 units completed in Q3 2024. This was an increase from 1.4 million units in 2023 and 1.3 million units in 2020.
  • Jeddah's total residential stock reached 899,000 units, with around 8,000 units completed in Q3 2024. This was an increase from 881,000 units in 2023 and 844,000 units in 2020.

In Q4 2024, it was estimated that an additional 4,000 units were completed in Riyadh and another 7,000 units in Jeddah.

Saudi Arabia Residential Supply graph

Despite this Saudi Arabia faces an acute housing shortage. Based on research conducted by Knight Frank in 2024, over 115,000 housing units are needed to be built annually until 2030 to meet the demand from Saudi nationals.

To tackle this, a comprehensive housing program was introduced in 2018, including the Sakani initiative which has facilitated over 800,000 contracts. Moreover, Saudi Arabia's cabinet approved a 2.5% tax on undeveloped and idle urban land plots or "white lands" nine years ago, applicable to landowners of plots exceeding 5,000 square meters.

Boosting home ownership

The Kingdom's population of 33.5 million is growing by about 2% annually in the past decade. It is dominated by young middle-class Saudis who are first-time homebuyers, as 45% of the country's population is below 20 years old. Expatriates represent almost a third of the total population, and they too need accommodation. Low and middle-income households make up about 80% of the unmet demand.

To boost affordable housing and the property market, mortgage financing is being made more accessible for Saudis:

  • In 2016, the National Housing Company (NHC) was established, which has been instrumental in developing new housing units in the Kingdom.
  • The Ministry of Housing's "Sakani" program, which was launched in 2018, offers affordable housing options and helps with financing. The Sakani program helped over 157,000 families in 2018 and 300,041 families in 2019. During the first installment in FY 2020, 32,285 families have benefitted from the program. Then in 2021, the program assisted over 210,000 Saudi families in 2021, raising the total beneficiaries to 1.2 million. The Sakani program has been supporting families every year, and in 2023, more than 96,000 families benefited from the program, and over 20,000 families were assisted through developmental housing tracks. Then in H1 2024, an additional 55,000 Saudi families benefitted from the program, an 8% increase from 51,000 families in the same period last year.
  • Earlier, the down payment for the first housing was lowered from 10% to 5% in April 2018, according to Real Estate Development Fund (REDF) General Supervisor Khalid bin Mohammed Al-Amoudi. The REDF also launched the "flexible installment" that allows adjustments to monthly installments in accordance with the beneficiary's income.
  • The Saudi Arabian Monetary Authority (SAMA), the country's central bank, allowed banks to supply a higher share of funding for home purchases by increasing the banks' maximum loan-to-value ratio for mortgages of first-time homebuyers from 85% to 90% in 2018.
  • In January 2018, the REDF started offering subsidized mortgage financing to its existing recipients.
  • The REDF approved a mortgage guarantee program in October 2017, which makes it easier for a relative to be nominated as guarantor for mortgage loan financing.
  • In October 2017, Saudi Arabia's Public Investment Fund launched a mortgage refinancing company, called the Saudi Real Estate Refinance Company (SRC). The intention is that within 5 years it will refinance mortgages worth SAR 75 billion (US$ 20 billion). "The new company is designed to stimulate housing sector development in the kingdom by injecting liquidity in the real estate market," said a statement.
  • The SRC launched an initiative in August 2018, allowing new and existing borrowers to apply for long-term mortgages at fixed rates. Aside from improving Saudi's mortgage financing availability, this new initiative also provides protection from interest rate hikes.
  • As of the first half of 2024, the Ministry of Municipal, Rural Affairs, and Housing has reportedly signed over 26,000 land development contracts, including 11,000 in Q4 2023, to provide affordable housing and boost homeownership among Saudis.

These measures are part of Saudi Arabia's National Transformation Program 2030, which aims to achieve a 70% homeownership rate by 2030. By early 2024, the nationwide homeownership rate reached 63.74%, an increase of 16.7% compared to 2016.

Rental Market:

Yields are high, rents rising strongly

In Riyadh, the average gross rental yield remains high at 8.89%, and around 7.89% in Jeddah, according to the STC Real Estate Index published by Stephane Tajick Consulting.

Moreover, Saudi Arabia's rental market has been recently growing strongly, amidst robust demand both from Saudis and expat workers.

During the year to Q3 2024:

  • In Riyadh, residential rental rates rose strongly by 10% y-o-y in Q3 2024, according to JLL MENA.
  • In Jeddah, residential rental rates also increased by 8% over the same period.

"Robust demand in Riyadh and Jeddah's residential market continued to drive the sector's strong performance in Q3, reflected by the elevated annual sale prices and rental rates in both cities," said the JLL MENA report.

Mortgage Market:

Small but rapidly expanding mortgage market

The Saudi Arabian Monetary Agency (SAMA), the kingdom's central bank, decided to cut its official repo rate by another 25 basis points to 5.0% in December 2024, following a 25 basis point rate cut in November and another 50 basis point cut in September, in a bid to boost economic activity.

The reverse repo rate was also slashed by 25 basis points to 4.5% in December 2024, its third consecutive rate cut in four months.

SAMA's latest decision aligns with the US Federal Reserve's move to lower its benchmark rate by 25 basis points, setting the target range between 4.25% and 4.5%.

Saudi Arabia Repo Rate graph

This has helped the mortgage market to maintain its robust growth. In the first eleven months of 2024, the number of new residential mortgage loans reached 107,008 contracts, up by 13.6% from the same period last year, according to SAMA.

Likewise, the total value of new residential mortgage loans also increased by 10.7% y-o-y to SAR 79.12 billion (US$21.09 billion) over the same period.

By property type, in Jan-Nov:

  • Houses: SAR 50.18 billion (US$13.38 billion), up by a modest 2.4% from a year earlier
  • Apartments: SAR 24.6 billion (US$6.56 billion), up by a whopping 32.5% from the same period last year
  • Land: SAR 4.34 billion (US$1.16 billion), up by 11.2% from a year earlier

Saudi Arabia New Residential Mortgages graph

As a result, the total amount of real estate loans outstanding rose strongly by 13.3% to SAR 846.48 billion (US$225.67 billion) in Q3 2024, according to SAMA figures. It has been growing by an average of 21% annually from 2010 to 2024.

Lending to individuals constituted the largest portion, representing 78% of the total, with an annual growth rate of 11.02%.

Real estate loans currently make up 29.7% of the total loan portfolio of Saudi banks, which amounted to SAR 2.85 trillion (US$759.81 billion) by end-Q3 2024.

As a percentage of GDP, the mortgage market grew to about 21% in 2024, up from 19.2% in 2023 and 16.6% in 2022, and far higher than just 3% in 2010, based on figures from the Global Property Guide.

The Real Estate Development Fund (REDF), a state-funded entity, currently dominates the home financing market.

Saudi Arabia Real Estate Loans graph

Socio-Economic Context:

Local house price variations

Riyadh had the best performance among the major cities in the country during 2024, posting a strong growth in its residential property prices of an average of 8.6%, following y-o-y increases of 8.6% in 2023 and 17.7% in 2022, according to GAStat.

During 2024:

  • In Jazan, residential property prices rose slightly by 1.3%, after increasing by 3.8% in 2023 and 0.5% in 2022.
  • Al Baha saw the biggest y-o-y price fall of a huge 18.4%, after a minuscule increase of 0.7% in the prior year and a decline of 14.4% two years ago.
  • In Hail, residential property prices increased by a meager 0.9% last year, following annual rises of 1% in 2023 and 5.4% in 2022.
  • In Al Qaseem, prices fell by 3.4%, in contrast to y-o-y increases of 0.2% in 2023 and 10.1% in 2022.
  • In Najran, prices were down slightly by 0.7% last year, in contrast to y-o-y growth of 13.4% in the previous year and 0.6% two years earlier.
  • In Madinah, prices fell slightly by 0.8%, a turnaround from a 2.4% growth in 2023 and a 6.8% increase in 2022.
  • In Tabouk, prices rose by a minuscule 0.3% during 2024, a slowdown from annual growth of 9.3% in 2023 and 1% in 2022.
  • In Aseer, residential property prices dropped by 8.8, in contrast to y-o-y increases of 3.8% in 2023 and 5.4% in 2022.
  • In Makkah, prices fell by 1.6% during 2024, after rising by 2% in 2023 and 11.1% in 2022.
  • In Al Jouf, prices fell by 5.4% last year, after a y-o-y growth of 5.2% in the prior year and a slight fall of 0.2% two years earlier.
  • In the Eastern Province, prices fell by 5.8, worse than the prior year's 0.7% decline and in stark contrast with 2022's 6.2% price increase.
  • In the Northern Borders, prices were up slightly by 0.5%, after falling slightly by 0.1% in 2023 and a strong growth of 9.3% in 2022.

Saudi Arabia Residential Real Estate Price Indices by Area graph

The impact of oil price fluctuations

Oil price volatility continues to influence Saudi Arabia's housing market. For instance, the sharp decline in oil prices in 2014 triggered a downturn in property values, as government revenues and economic activity slowed.

Saudi Arabia, in its effort to maintain global market share, contributed to the price drop, with Brent crude averaging just US$57.1 per barrel between 2015 and 2019-well below the country's estimated breakeven price of US$100 per barrel.

More recently, oil prices rebounded, peaking above US$120 per barrel in mid-2022 due to geopolitical tensions and supply constraints. This resurgence fueled economic growth, boosting government spending and real estate demand. However, by late 2023 and early 2024, oil prices softened again, averaging around US$80 per barrel, raising concerns over fiscal sustainability and its potential impact on housing market momentum.

While the Saudi real estate sector remains strong, supported by Vision 2030 initiatives and major development projects, continued oil price fluctuations will be a key factor influencing housing market trends in the coming years.

In December 2024, Brent crude oil price stood at an average of US$73.83 per barrel, down by 5.2% from the same period last year.

Saudi Arabia Crude Oil Prices graph

Fiscal resilience amid oil price volatility

Despite oil price volatility, Saudi Arabia has far larger cash reserves and is able to withstand a downturn in prices for much longer. Saudi Arabia is the world's largest oil producer and exporter and also has huge clout as leader of the Organization of the Petroleum Exporting Countries (OPEC). Petroleum accounts for more than 75% of government revenues and 90% of exports.

Saudi Arabia has compensated for its reduced oil revenues by running fiscal deficits. There was a deficit of 15.8% of GDP in 2015, 12.9% in 2016, 9.2% in 2017, 5.7% in 2018 and 4.4% in 2019. This was in sharp contrast with budget surpluses of about 13% of GDP from 2003 to 2013.

The sharp increase in Saudi Arabia's budget deficit in 2015 and after can be attributed to:

  • The sharp decline in crude oil prices,
  • Following King Salman's recent accession to the throne in January 2015, he immediately spent a substantial amount of money on subsidies and public job bonuses, including extra months of additional salary for all government employees, in an effort to increase his popularity.
  • Significant military expenditures on conflicts in Yemen and Syria, and support for Egypt.

The deficit climbed to around 11.2% of GDP in 2020 due to increased government spending during the pandemic. However, as oil prices rebounded, the shortfall was swiftly reduced to 2.3% of GDP in 2021. By 2022, the country achieved a surplus of around 2.5% of GDP, driven by soaring crude oil prices and strong economic growth. However, in 2023 and 2024, the country slipped back into a deficit of about 2% of GDP due to weaker economic performance.

The government projects a fiscal deficit of US$27 billion in 2025 and anticipates a deficit of around 3% of GDP in the coming years as spending and investments in domestic projects increase.

From having the lowest share of public debt in the world at less than 2% of GDP in 2014, the kingdom's public debt ballooned to around 22.8% of GDP in 2019 and further to 32.5% of GDP in the pandemic year of 2020. Over the past four years, public debt has fluctuated between 23% and 30% of GDP.

Crown Prince Mohammed bin Salman is Saudi's de facto ruler

Crown Prince Mohammed bin Salman has played a transformative yet controversial role in shaping Saudi Arabia's political and economic landscape. Since his appointment in June 2017 after King Salman deposed Muhammad bin Nayef the crown prince has consolidated power through sweeping reforms and crackdowns.

Shortly after assuming his role, the crown prince launched an extensive anti-corruption campaign, leading to the arrests of at least 11 princes, four ministers, and numerous former officials and business leaders, including billionaire Prince Al-Waleed Bin Talal. While the crackdown was officially against corruption, many saw it as a move to strengthen his power.

The crown prince's foreign policy approach has been assertive and, at times, destabilizing. He played a key role in the 2017 economic blockade of Qatar, which ended in 2021 after a reconciliation agreement. His rivalry with Iran has also escalated tensions, particularly following his remark that Iran's Supreme Leader was "the new Hitler of the Middle East." Furthermore, his leadership has been strongly linked to Saudi Arabia's military intervention in Yemen, a conflict that has led to a prolonged humanitarian crisis.

One of the biggest international controversies surrounding Crown Prince Mohammed was the 2018 killing of journalist Jamal Khashoggi, who was last seen entering the Saudi Consulate in Istanbul. Intelligence reports, including a 2021 U.S. assessment, concluded that the crown prince likely approved the operation. The killing caused a global outcry, leading to diplomatic tensions and temporary setbacks for Saudi investment initiatives. British billionaire Richard Branson was among the first to withdraw from Saudi business ventures, halting discussions over a US$1 billion investment in Virgin's space projects.

In October 2020, Khashoggi's fiancée, Hatice Cengiz, filed a lawsuit against the crown prince and other Saudi officials, accusing them of orchestrating the murder. While the crown prince has consistently denied direct involvement, the incident significantly damaged his international reputation. However, diplomatic ties have since been repaired, with many Western nations and businesses resuming relations with the kingdom.

In 2023, Riyadh restored diplomatic ties with Iran after years of hostility, signaling a shift towards regional stability. The kingdom has also positioned itself as a key mediator in Middle Eastern conflicts, including efforts to ease tensions in Sudan and Yemen.

Despite the controversies, the crown prince remains focused on his Vision 2030 initiative, an ambitious plan to diversify Saudi Arabia's economy beyond oil. Key projects include NEOM, a US$500 billion smart city, and the development of the tourism and entertainment sectors. His government has also introduced social reforms, including expanding women's rights and opening up Saudi society to cultural and economic modernization.

While his leadership has been marked by both dramatic reforms and significant controversies, Crown Prince Mohammed continues to shape Saudi Arabia's future, balancing modernization efforts with strong political control.

Sources:

Subscribe to Global Property Guide

Access up-to-date real estate data and statistics.
Subscribe Now Already a subscriber? Sign in.

Get behind the paywall and more...

Get the data behind 80+ countries for $39 per month.
Latest Market Reports
Rental Yields
House Price Indices
Rent Price Indices
Square Meter Prices
Median Property Prices
Median Rent Prices
Mortgage Rates
Property Taxes
Quarterly Trackers
Quarterly Market Overviews

Subscribe to Global Property Guide

Access up-to-date real estate data and statistics.
Subscribe Now Already a subscriber? Sign in.

This page requires a Professional plan

Get the data behind 80+ countries for $99 per month.
Historical & Current Rental Yields
Historical & Current Purchase Prices
Historical & Current Rent Prices
Historical & Current m2/sqft Prices

More data and information on Saudi Arabia

Rental Yields in Saudi Arabia
House Price Index in Saudi Arabia
Property Taxes in Saudi Arabia
Square Meter Prices in Saudi Arabia