Al-Humayn stressed that this method caused the exacerbation of the crisis, as we are now witnessing an increase in demand for residential villas where the prices of some villas with an area of 220 to 300 square meters ranged from one million to one million and 200 thousand riyals in incomplete and unpopulated areas in northern Riyadh and this caused the market to stagnate currently due to the inability to own property.

Al-Humayn

For his part, Muqbil bin Mohammed Al-Dhakir, CEO of Muqbil Al-Dhakir Real Estate Company, explained that we cannot blame any of the pillars of the buying and selling process, and we can say that the market has "creative chaos." Al-Dhakir pointed out that in the 2006 stock crash, liquidity went frighteningly to the real estate market, and from here land prices began to jump, and to make matters worse, some investors have high liquidity in acquiring vast areas of land, Their lack of confidence in the financial market led them to continue to more real estate ownership because of the high profitability of the activity.

Dhakir touched on real estate developers, where he described their prices as reasonable compared to the costs of construction, construction and development, especially since the price of land is high and it is scarce, as the developer does not guarantee to buy new land at a suitable price compared to the sale prices of the built property, which led to the exit of some developers from the market.

Al-Dhakir agreed with Abdulaziz Al-Humayn's opinion by saying that the high prices of apartments and villas for rent and purchase are still continuing.

About the current real estate situation, we are waiting for clarity of vision for white land fees, and we can only work after clarity of vision and clarity of fog, then a strong boom will occur and prices will rise, and globally when there is a slump in real estate, it rebounds more than it was.

Salem bin Abdullah Al Marri explains the reasons for the rise in housing units

Salem bin Abdullah Al-Marri, CEO of Al-Tafra Real Estate Company, explained that the reason for the rise in housing units (ownership) is caused by several parties, most notably: Banks, landowners, developers, pointing out that the housing unit is considered a final product that goes through several stages and affects it several influences, starting from the development of raw land and the costs of delivering services to the plan to putting the land on the market and the size of demand and supply in the market and the availability of supply and then the construction phase, which is affected by the prices of building materials and labor costs, and it is noticeable that all of the above .converted-space"> is in addition to the cost of the product represented by the housing unit, and the financing facilities provided by the bank. Dr. Al-Marri said that financing companies have helped to provide purchasing power to a number of customers, which helps them to raise the level of demand, as well as the customer who has the desire and ability to buy is a factor affecting the rise in price by creating demand, so I do not hold another party responsible for the rise in price, but all the combination has an impact on the price rise.

Another aspect that contributed to the rise in housing prices is the rise in the prices of building materials, in addition to the high costs of space"> labor costs have increased significantly during the past period, pointing out that the lack of supply of land available services help landowners to offer a price that lacks competition, and the programs of banks and financing companies have raised the ceiling of demand for ready-made housing units.

Mohammed Al-Ghamdi: Abundant supply, little demand

Mohammed Al-Ghamdi, Director of Public Relations and Development (Al-Salaka Real Estate Company), expressed surprise at the high prices of residential units (ownership) despite the abundance of supply and lack of demand, and said we find that the rise in the prices of housing units came only after knowing the direction of the Ministry of Housing and the Real Estate Development Fund to intensively target residential units as a suitable property in price and area?converted-space"> the loan provided to the beneficiaries, especially since the recent talk has made it clear that the concept of <span class="Apple-converted- need will be imposed on society as long as people do not understand it, but this is not the only justification for the rise in despite the abundance of supply and lack of demand.

Naif Al-Ghamdi Economic analysts have a role in the issue

Naif Al-Ghamdi

Nayef Al-Ghamdi, a member of the Saudi Economics Association, explained that the rise in ownership apartments is due to several reasons, including , the most prominent of which is the individual's conviction in the smaller ownership of the area from a villa to an apartment according to the lesser need, and the most important reason is the equality of the value of rent with the monthly installments of ownership, in addition to the confusion factor created by many senior celebrities in social networking sites through articles and attacks on sensitive points that confirm the decline of the property and its successor (I mean economic analysts), falsely indicating that developers are aiming to rob the citizen!! This is a behavior that must be intervened by the competent authorities, such as the Ministry of Housing and others if they have a real desire to control and create a fair real estate index.

Al-Ghamdi emphasized that if it were not for the developer's endeavor to create models of apartments with a beautiful character that tends to villas, we would not witness the desire for ownership, which is matched by high prices.