{"id":30272,"date":"2020-10-21T15:17:47","date_gmt":"2020-10-21T12:17:47","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=30272"},"modified":"2020-10-21T15:17:47","modified_gmt":"2020-10-21T12:17:47","slug":"%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d8%a7%d8%aa-%d9%88%d8%b6%d8%b1%d9%8a%d8%a8%d8%a9-%d8%a7%d9%84%d8%aa%d8%b5%d8%b1%d9%81%d8%a7%d8%aa-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a%d8%a9","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/30272\/","title":{"rendered":"Mohammed Al-Babtain: Correcting the Course of the Real Estate Market Through a Real Estate Transaction Tax"},"content":{"rendered":"<h2 class=\"wp-block-heading\"><strong>Real estate purchases will be based on housing needs or investment purposes<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">Real estate expert Mohammed Al-Babtain (Al-Babtain Real Estate Office) confirmed that the approval of <a href=\"https:\/\/amlak.net.sa\/en\/%d8%b6%d8%b1%d9%8a%d8%a8%d8%a9-%d8%a7%d9%84%d8%aa%d8%b5%d8%b1%d9%81%d8%a7%d8%aa-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a%d8%a9\/\">Real estate transaction tax<\/a> The amount of (5%) of the value of the sold property will drive <a href=\"https:\/\/alarab.co.uk\/%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9-%D8%AA%D9%82%D9%84%D8%B5-%D8%B6%D8%B1%D9%8A%D8%A8%D8%A9-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D8%A7%D8%AA-%D9%84%D8%AF%D9%81%D8%B9-%D8%A7%D9%84%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF\">Real estate market<\/a> At reasonable and fair prices, free from speculation and property flipping in the market. He explained that the tax will limit repeated sales that drive up prices, and purchases will be limited to what is needed for personal housing or investment, so that the tax will ultimately benefit the end user.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Al-Babtain predicted that the market would see increased activity in the purchase of private residences by individuals, which would boost the real estate development sector by encouraging the construction of more residential units with specific features tailored to the coming phase. He noted that raising the first-home tax exemption to one million riyals supports citizens and enables them to purchase a home as a result of this exemption. He also hinted that the recovery in housing demand encourages real estate financing, emphasizing that these changes are helping to put the real estate market back on track.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Al-Babtain stated that the prevailing view\u2014that \u201cland requires no expenses\u201d\u2014has been dispelled by the implementation of the land fee system,\u00a0 and that it is likely that landowners will either develop their land or sell it. The system will have a direct impact on significantly curbing real estate speculation, thereby making additional residential land available at affordable prices.<\/p>","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading time: <\/span> <span class=\"rt-time\"> &lt; 1<\/span> <span class=\"rt-label rt-postfix\">Minute<\/span><\/span>Real estate purchases will be based on housing needs or investment. Real estate expert Mohammed Al-Babtain (Al-Babtain Real Estate Office) emphasized that the enactment of the real estate transaction tax, amounting to (5%) of the value of the property sold will stimulate the real estate market with reasonable and logical prices, away from speculation and the flipping of properties on the market. He explained that the tax will limit repeated sales that drive up prices, and it will \u2026 <a title=\"Mohammed Al-Babtain: Correcting the Course of the Real Estate Market Through a Real Estate Transaction Tax\" class=\"read-more\" href=\"https:\/\/amlak.net.sa\/en\/30272\/\" aria-label=\"Read more about Mohammed Al-Babtain: Correcting the Course of the Real Estate Market Through a Real Estate Transaction Tax\">Read more<\/a><\/p>","protected":false},"author":10,"featured_media":30273,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"\u0627\u0644\u0639\u0642\u0627\u0631\u0627\u062a - \u0645\u062d\u0645\u062f \u0627\u0644\u0628\u0627\u0628\u0637\u064a\u0646: \u062a\u0635\u062d\u064a\u062d \u0645\u0633\u0627\u0631 \u0627\u0644\u0633\u0648\u0642 \u0627\u0644\u0639\u0642\u0627\u0631\u064a \u0628\u0636\u0631\u064a\u0628\u0629 \u0627\u0644\u062a\u0635\u0631\u0641\u0627\u062a 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