Demand for residential plots dominated the demand over the past weeks, as the additional loan for plots boosted the demand for residential plots for applicants to the Real Estate Fund.
On the other hand, the real estate market is still struggling to keep up with the demand. <On the other hand, the housing issue is still far from practical solutions to the overall market reality, which lacks urban development planning, spatial imbalance, government land management and construction methods that have contributed to shortening the life of buildings and deteriorating them before they reach their life expectancy. This is in addition to the fact that the housing issue is a complex issue and that a comprehensive and sustainable solution to it depends on many elements that need to be studied and informed of its dimensions, and that a serious start to developing a housing sector that allows every citizen to obtain suitable housing is the preparation of a national strategy that starts from an accurate and transparent analysis of the current situation of the housing sector and the obstacles to its growth and defines visions, general and phased objectives, tools, policies and mechanisms to achieve those visions.
The real estate sector has undergone significant changes in the real estate market. <The real estate sector in the Kingdom went through a period of anticipation due to a set of internal and external factors, but the situation remained fairly good and was able to achieve appropriate growth rates supported by government support for infrastructure and the construction sector, and in return, real estate professionals believe that the country is on its way to absorb and attract more investors and capital that can be rotated in all sectors and thus move the total economy to the highest ranks in the field of competitiveness that we are approaching the top ten globally, pointing out that this depends on the sound economic thinking and planning of the wise leadership that supports the real estate sector in the Kingdom of Saudi Arabia and the Kingdom of Saudi Arabia. It is not expected that there will be fundamental changes to those forces supporting the mobilization and growth of this market. They pointed out that the demographic facts coupled with strong macroeconomic growth undoubtedly support the growth of this sector, but it is expected that the lack of supply of housing units will be a major challenge for those wishing to own housing units in light of the decline in the role of lending and some other factors to ensure investment, such as mortgage, which will add more momentum to this sector and develop it further if it is applied.
<Statistics indicate that the volume of investments in real estate exceeds 1.3 trillion riyals and this is an indicator of the dominance of this market and its great ability to attract many internal and external investments, as the annual turnover within the market reached more than 220 billion riyals and the market continues to attract investors in various real estate fields and promises a bright future, as well as the strength of the growth of the Kingdom's economy and the increasing growth rate of the population that falls in the segment of youth and young people make there is a need for various real estate products, and recent studies indicate that the volume of investment in the housing sector by more than 480 billion riyals until 2015.
