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High prices for houses result into increase in demand for apartments at rent


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Neighboring countries to Saudi Arabia such as Dubai facing economy slowdown which has resulted into people started moving towards big cities like Riyadh and Jeddah of Saudi Arabia. As a result the demand for houses in these cities is more in compare to supply. Today for getting شقق للإيجار جدة, and شقق للإيجار الرياض people have a waiting list of around 8 to 12 months.

As the demand for the houses has been increased in Riyadh and Jeddah the prices of houses has been increased which as resulted into people are not able to afford to have ownership of apartment in Riyadh. The average prices for شقق للبيع‬ is around SAR 3150/m2 which is economical is favored by small scale or individual developers while large scale developers are pricing their شقق للبيع at around SAR 3700/m2 which is beyond the financial reach of many of Riyadh’s house holds.

As the people cant afford to purchase house or don’t have capability to have شقق تمليك الرياض, they have started to take house at rent. As result into suddenly increase in the demand for شقق للإيجار in compare to supply the demand was extremely high so which result into waiting list for minimum period of than 8 to 10 months.

In compare to شقق للإيجار الرياض the شقق تمليك جدة, are cheaper. Prices at Riyadh’s most desirable compounds such as Al-Hamra, Eid, etc. for 3 bed rooms are around 80000$ per year in compare to that in Jeddah‘s premium compounds price around 47000$ per year. This is because Riyadh is capital of Saudi Arabia and mainly all companies have their office at Riyadh only. But as the demand for companies are also increasing they have start moving towards cities like Jeddah which as resulted into increase in demand for land and apartment at Jeddah also. Even in Jeddah also there is waiting list for apartment s for around 6 to 8 months.

With the increase in demand for housing at big cities of Saudi Arabia the demand for professional people as also increase which result into increase in employment in such cities. But increase in demand in big cities as stop development of small cities as developers have move from small cities to big developed cities. This as also resulted into slow growth of small cities in compare to big cities and small cities remains underdeveloped and giant cities are getting more developed.

 

معظمهم أو الشقق المعروضة.يقيمون في مدينة جدة لمرحلة طويلة من الزمن، سوف ترى أيضا رجال الأعمال الإقليمية شقق للبيع، شقق للإيجار جدة والخبراء الشباب، والطلاب.

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  • Posted On June 25, 2012
  • Published articles 10

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