{"id":35235,"date":"2022-05-16T12:27:51","date_gmt":"2022-05-16T09:27:51","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=35235"},"modified":"2022-05-16T12:27:51","modified_gmt":"2022-05-16T09:27:51","slug":"%d8%a7%d9%83%d8%aa%d9%85%d9%84-%d8%a7%d9%84%d8%ad%d8%ac%d8%b2-%d8%ae%d9%84%d8%a7%d9%84-%d8%b3%d8%a7%d8%b9%d8%a7%d8%aa-%d8%a7%d8%b3%d8%aa%d8%b7%d9%84%d8%a7%d8%b9-%d8%a3%d9%85%d9%84%d8%a7%d9%83","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/35235\/","title":{"rendered":"Reservations were full within hours. Amlak's online survey reveals the reasons for citizens\u201c appetite for government projects"},"content":{"rendered":"

There are shortcomings in the management of the housing crisis and a shortage of properties that meet the needs of the middle class<\/mark><\/strong><\/h3>\n\n\n\n

The prices of villas adjacent to and comparable to the \u201cNarcissus View\u201d project range from 2 million to 4 million<\/strong><\/h3>\n\n\n\n

Rising real estate prices have revitalized off-plan sales projects, despite their slump in recent years<\/mark><\/strong><\/h3>\n\n\n\n

Riyadh-Mohammad al-Amin Jamous<\/h4>\n\n\n\n

Last April, the National Housing Company announced the launch of 5,000 new residential villas spread across the city of Riyadh, as part of the plan to boost the real estate supply being pursued by the Ministry of Municipal, Rural Affairs, and Housing through the \u201cSakani\u201d program. For its part, the company announced Reservations for the Al-Narges Project Are Now Full<\/mark> <\/a>Views within one hour of its release.<\/p>\n\n\n\n

The \u201cAmlak Real Estate\u201d newspaper conducted a poll on its official Twitter account and asked the following question: What does it mean that reservations for the Al-Narges View project north of Riyadh were fully booked within an hour of being made available to eligible applicants? Residential program<\/mark><\/a>\u061f<\/p>\n\n\n\n

A Gap in Appropriate Supply<\/mark><\/strong><\/h4>\n\n\n\n

A total of 584 interested parties participated in the survey, with 53.2% of the respondents stating that the fact that reservations filled up so quickly indicates a shortage of suitable options, while 7.3% of them felt that the specifications of the villas on offer met their preferences, and 39.5 believed that the booking resulted from a strong desire to own a property.<\/p>\n\n\n\n

\u00a0The current supply does not meet the demand<\/mark><\/strong><\/h4>\n\n\n\n

Some participants in the survey argued that there is a failure in the management of the housing crisis, and a shortage of residential properties that meet the needs of the middle class, noting that this class has become a constant customer for newly launched housing projects, which underscores the mismatch between their purchasing power and the astronomical prices on the market, because the policy of monopolizing and hoarding residential land remains in place. <\/p>\n\n\n\n

High Prices of Villas and Developer Projects<\/mark><\/h4>\n\n\n\n

Another group of researchers compared similar villas in the vicinity, noting that prices for these villas on the open market range between 2 million and 4 million, which explains the price difference between developers\u2019 projects and the Ministry\u2019s projects. Consequently, government projects have begun to align with citizens\u2019 preferences. They noted that villas and land have been widely available for the past four months; however, at these high prices, no buyers have been found, and they predicted that such projects would soon come to a halt.<\/p>\n\n\n\n

Slump in Off-Plan Sales Projects<\/strong><\/mark><\/h4>\n\n\n\n

One of the participants noted that some off-plan sales projects had stagnated in recent years, despite the marketing hype surrounding them, and had failed to align with citizens\u2019 preferences; however, rising real estate prices had forced people to purchase them. Now, however, the Ministry of Housing\u2019s vision has become clearer, and it has designed projects with appropriate specifications and prices, resulting in high demand for them.<\/p>\n\n\n\n

National Housing Company Projects<\/mark><\/strong><\/h4>\n\n\n\n

The National Housing Company\u2019s projects offer vibrant, culturally rich communities with distinctive and modern designs, as part of ongoing expansion plans to increase the real estate supply and provide housing units that meet the needs of Saudi families and align with their purchasing power, at an average price of 750,000 riyals, These projects feature integrated infrastructure and all necessary services and facilities, including educational, healthcare, recreational, and other amenities. The city of Riyadh is home to more than 35 residential projects offering over 32,000 diverse housing units, as part of 115 projects offering more than 149,000 units across various cities in the Kingdom.<\/p>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>There is a malfunction in the management of the housing crisis and a shortage of real estate that suits the desires of the middle class The villas equal and adjacent to the \u201cNarges View\u201d project are priced between 2 million and 4 million The rise in real estate prices has revived off-plan sales projects despite its depression during the past years Riyadh - Mohammed Al-Amin Jamous The National Housing Company announced last April the launch of 5 ... Read more<\/a><\/p>","protected":false},"author":10,"featured_media":35236,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[100],"tags":[],"class_list":["post-35235","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-residential"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak 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