The real estate market in Makkah has seen increased activity as a result of the high demand in the residential sector, which picks up every Hajj season, with real estate offices currently experiencing a flurry of activity as contracts are signed and notarized for the rental of homes and apartments owned by Mecca residents to pilgrims arriving from various Gulf countries and regions of the Kingdom, while others have turned to websites and social media to list their apartments in search of tenants.
Residents of Makkah take advantage of the Hajj season to rent out their apartments and homes near the holy sites, with daily rent reaching up to 1,000 riyals, while locals are looking for housing outside the Haram area to increase their income, and others are renting out part of their apartment while living in the other part, which contributes to higher rents during the Hajj season.
In this regard, Mansour Al-Hathli explains that his apartment is located near the Mina sanctuary, only about one kilometer away, and that he takes advantage of this time of year to rent it to pilgrims coming to Makkah for a period of up to about 15 days, during which he earns 12,000 riyals, noting that the apartment he lives in, which has an annual rent of 25,000 riyals, earns him nearly half that amount in just a few days of the year.
As for Abdulrahman Al-Hakami, the rent for his apartment—which has two entrances—amounted to 10,000 riyals for two weeks, noting that some residents of Makkah have listed their apartments on websites and social media, detailing their specifications and location relative to the Grand Mosque and the holy sites.
According to Abdulmajeed Al-Ghamdi (an employee at a real estate office), the Hajj season presents a valuable opportunity for owners of homes and furnished apartments in Makkah who rent them out, thereby generating profits during the season, He emphasized that real estate agencies experience a significant boom during the Hajj season through the rental of buildings or apartments to pilgrims visiting the Sacred Mosque, He noted that there are advance reservations from outside Makkah and the Gulf region for apartments in Al-Aziziyah and Al-Shisha due to their proximity to the Grand Mosque and the holy sites.
