Reading time: < 1 MinuteAverage rents in London rose at an unprecedented rate during the second quarter of this year, as rising mortgage rates forced landlords to increase rents. Bloomberg News reported that the average rent in London currently stands at 2,567 pounds (3,310 dollars) per month, an increase of 13.7% compared to the same period last year, and an increase of … Read more
Reading time: < 1 MinuteEconomic data released showed a larger-than-expected decline in existing home sales in the United States last June. According to data from the National Association of Realtors, the number of pending home sales fell last month by 3.31% month-over-month to an annualized rate of 4.16 million homes, after rising by 0.21% in May to an annualized rate of 4.30 … Read more
Reading time: 2 MinutesThe National Housing Company (NHC) has launched three residential projects in the Sadaim neighborhood, the newest residential suburb in the Jeddah Governorate, which were inaugurated on July 17, 2023, as part of a series of projects the company is developing in collaboration with the private sector to offer a new concept of housing with integrated facilities and services that enhance quality of life. The “Mian” project is one of the projects… Read more
Reading time: < 1 MinuteThe Real Estate Development Fund announced that it has deposited 929 million riyals into the accounts of beneficiaries “Sakani” from the Ministry of Municipal, Rural Affairs, and Housing and the ”Real Estate Fund” for the month of July 2023, as part of ongoing efforts to improve beneficiaries’ ability to afford housing, in order to achieve the objectives of the housing program —one of the programs of the Kingdom’s Vision 2030—by providing sustainable financing and housing solutions through the development of systems … Read more
Reading time: < 1 MinuteThe German economic research institute Ifo has predicted a significant decline in construction activity in many European countries in the coming years. According to calculations by the research group Euroconstruct, published by the Ifo Institute, Germany will be among the European countries with the sharpest declines in construction activity. Experts predicted that the number of completed housing units in the 19 countries covered by the study … Read more
Reading time: < 1 MinuteOfficial data released by China’s National Bureau of Statistics showed that fewer Chinese cities recorded monthly increases in home prices last June. The data indicated that 31 out of 70 large and medium-sized cities recorded monthly increases in new home prices last month, compared to 46 cities in May. Meanwhile … Read more
Reading time: < 1 MinuteThis is one of the e-services provided by the Kingdom of Saudi Arabia, through which citizens can inquire about obtaining a building permit issued by the Ministry of Municipal, Rural Affairs, and Housing via a unified national platform “Baladi,” where individuals and institutions in the Kingdom can search for building permits electronically using their ID number. Requirements for Obtaining a Building Permit The Ministry of Municipal, Rural Affairs, and Housing has announced several … Read more
Reading time: 8 MinutesThe Saudi Cabinet, chaired by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, recently approved the Real Estate Contribution System. Taysir Al-Mufarraj, a spokesperson for the General Real Estate Authority, said that within 120 days, the Authority will issue detailed implementing regulations for the Real Estate Contribution System, including procedures and licensing conditions, in coordination with the Capital Market Authority. He added in an interview with “Al-Ikhbariya” that the regulations represent … Read more
Reading time: < 1 MinuteA report issued by the Ministry of Economy and Planning revealed that real estate transactions and property prices in the Kingdom are likely to slow down in the coming period, as demand for real estate—particularly in the residential sector—is affected by rising interest rates. The report, which highlights key indicators of the Saudi economy in the first quarter of 2023, explained that this slowdown may also be due to … Read more
Reading time: < 1 MinuteThe Dubai Municipality announced the issuance of the first building permit for a private residential villa constructed using 3D printing technology.
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