Reading: Mohamed Al-Amin Jamous

With the end of the current year 2015, real estate professionals are recalculating to prepare for a new real estate and economic reality in 2016 in a few days...

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Many complex policies led to the decline in real estate transactions and sales in the second half of the year that is about to end, especially the ratio of the down payment for mortgage financing 30% of the total value of the financed asset, the implications of the decision of the white land system, the high prices of housing units that exceed the housing demand, and the supply is less than the demand or not compatible with buyers.

Real estate and economic realities in the second half of the year that is about to end.

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Unofficial press reports revealed the impact of the 30% down payment barrier on the reluctance to apply for financing, as the total mortgage financing until the end of the third quarter in financial institutions reached about 6 billion riyals, compared to 40 billion riyals during the last year 2014, these figures and similar ones were an indicator of the approval of the new (real estate financing policies).

These figures and similar ones were an indicator of the approval of the new (real estate financing policies).

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<The new real estate financing policies approved by the Council of Ministers To guarantee 20% of the value of the down payment for a citizen wishing to obtain a mortgage with the intention of owning a home, has restored hope to many as an important step in supporting those who are truly entitled to housing, which means good news and predicting the return of momentum to the real estate market again.

The new real estate financing policies approved by the Council of Ministers.

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Last week, the Ministry of Housing revealed its intention to introduce new and diverse products in early 2016, which is a stimulus to the real estate market, especially since many have been very optimistic about the arrival of the new year, and it is even more tempting that steps are underway to transform the Real Estate Fund into an investment financing institution.

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