Real estate developers should evaluate and study current prices to be suitable for demand
Amlak-Private
Many real estate professionals are counting on residential projects to increase the housing supply and bring prices down to their real and reasonable value, as the residential program announced in its report for the month of May announced that 8,856 families benefited during last April, while the number of families who lived in their homes reached 12,375 families, by taking advantage of the subsidized mortgage loan option to buy ready and under construction housing units within “Sakani” projects, the option of self-construction, and residential lands available within the “Sakani” website and application.
indicators to increase the desire to own
The program reportedly issued 664,897 real estate transaction tax certificates for the first home from the beginning of the program until the end of last April, this large number is a real indicator of the trend of the desire of families to own and buy, the ministry's various programs have developed multiple mechanisms to contain the rise in prices, and at the same time provided housing units at appropriate prices with an average price of 750 thousand riyals, and with comfortable installments compared to the prices in the market, so many citizens wishing to own are waiting for these housing projects to avoid colliding with the market, and what increases certainty that the middle class need is urgent and necessary to acquire housing is that the quantity offered within an hour.
The importance of assessing supply, demand and prices
The “Sakani” report provided details of 4 housing projects launched by the National Housing Company in Riyadh that provide about 5 thousand housing units, and included construction updates in more than 92 projects that provide more than 120 thousand housing units under construction, which were implemented in partnership with private sector real estate developers in all regions and cities of the Kingdom within 119 projects that provide about 155 thousand units between apartments, villas and townhouses.
The "Sakani" report included details of 4 housing projects launched by the National Housing Company in Riyadh that provide about 5 thousand housing units, as well as construction updates in more than 92 projects that provide more than 120 thousand housing units under construction that were started in partnership with private developers.
With this rich addition to the real estate supply, will the addition of 5 thousand desirable housing units affect real estate prices? Certainly, competing projects will evaluate the supply, demand and prices they offer and the obstacles that make the required value beyond the energy and ability of the citizen despite the facilitation of real estate loans from banks and financial institutions.
Real estate projects will evaluate the supply, demand and prices they offer and the obstacles that make the required value beyond the energy and ability of the citizen despite the facilitation of real estate loans from banks and financial institutions.
Housing land and plan development
The report deals with residential land and plan development, where the "Sakani" website and application allows reserving land and issuing contracts electronically, within 223 residential plans that provide more than 180 thousand residential land distributed in various regions and cities of the Kingdom.
Residential land and plan development.
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12,375 households moved into their homes last April.
12,375 households moved into their homes last April.
8856 households benefited from options.
8,856 households benefited from options.
664,897 real estate transaction tax certificates.
664,897
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Projects
119 projects.
About 155,000 housing units available.
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charts
223 residential schemes.
More than 180,000 residential plots available.
