<The housing and real estate sector is awaiting the announcement of the approval of the eligibility mechanism for housing units implemented by the Ministry of Housing for the “Land and Loan" program. And many wonder: Will the mechanism reduce real estate and land or raise their prices? A question that has been asked by many investors in the real estate market and landowners, and they are now divided between this and that, and the citizen is waiting and is confused ... Both sides have their own justifications and rationalizations that they feel are logical and reinforce their opinion.
Some are convinced that the approval of the mechanism will reduce the prices of real estate and land together, and that the principles and criteria contained in the mechanism will actually determine the general trend of real estate prices, which are witnessing stagnation in light of the stability of the factors known to affect its prices, as we find that since the issuance of the royal orders years ago to allocate billions for housing projects, most notably the (250) billion riyals, millions have aspired to own a home, especially after the serious steps of the Ministry of Housing in this regard.
The second party also has its conviction and justifications that the eligibility mechanism for housing units will raise real estate prices because the implementation of more housing units and the land and loan program will push many to own a home and thus develop lands to hand them over to citizens, or hand them ready-made housing, through real estate financing institutions and banks (additional loan). All these justifications made the second party reach the conviction that real estate and land prices will witness a significant rise in a number of regions of the Kingdom, especially the major ones, such as the central, western and eastern regions.
In any case, the approval of the entitlement mechanism for housing units is in the interest of the citizen because it will lay the foundations for how citizens can own housing, and this is what has been awaited by low-income people who have long suffered from the scourge of rising rents, with their fixed and limited incomes. We hope that the eligibility mechanism for housing units will meet the aspirations of the majority of citizens, and we hope that the Ministry of Housing will speed up the approval of the mechanism.
Some are convinced that the approval of the mechanism will reduce the prices of real estate and land together, and that the principles and criteria contained in the mechanism will actually determine the general trend of real estate prices, which are witnessing stagnation in light of the stability of the factors known to affect its prices, as we find that since the issuance of the royal orders years ago to allocate billions for housing projects, most notably the (250) billion riyals, millions have aspired to own a home, especially after the serious steps of the Ministry of Housing in this regard.
The second party also has its conviction and justifications that the eligibility mechanism for housing units will raise real estate prices because the implementation of more housing units and the land and loan program will push many to own a home and thus develop lands to hand them over to citizens, or hand them ready-made housing, through real estate financing institutions and banks (additional loan). All these justifications made the second party reach the conviction that real estate and land prices will witness a significant rise in a number of regions of the Kingdom, especially the major ones, such as the central, western and eastern regions.
In any case, the approval of the entitlement mechanism for housing units is in the interest of the citizen because it will lay the foundations for how citizens can own housing, and this is what has been awaited by low-income people who have long suffered from the scourge of rising rents, with their fixed and limited incomes. We hope that the eligibility mechanism for housing units will meet the aspirations of the majority of citizens, and we hope that the Ministry of Housing will speed up the approval of the mechanism.
