{"id":59145,"date":"2023-09-11T11:10:28","date_gmt":"2023-09-11T08:10:28","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=59145"},"modified":"2023-09-11T11:10:28","modified_gmt":"2023-09-11T08:10:28","slug":"%d8%a7%d9%84%d8%a8%d9%88%d8%b1%d8%b5%d8%a9-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a%d8%a9-5","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/59145\/","title":{"rendered":"Real estate surveys. What are realtors saying after the launch of the real estate exchange?"},"content":{"rendered":"

What do real estate professionals say after the launch of the real estate exchange?<\/strong><\/span><\/h4>\n

Reconnaissance: Abdullah Alsalih<\/span><\/h4>\n

The Saudi real estate sector has recently witnessed Official launch of the real estate exchange<\/a><\/strong><\/span> Which achieves transparency in transactions; as it provides reliable information on the value of transactions for the geographical area specified by the user, and enables sorting and merging services for real estate deeds using the real estate identity, in cooperation with the Ministry of Municipal and Rural Affairs and Housing.<\/p>\n

During the pilot launch, the real estate exchange witnessed more than 250,000 transactions, ranging from real estate listings, property sorting and merging, and mortgage and real estate financing services.<\/p>\n

Amal newspaper conducted a large survey about The impact of the stock market on the real estate sector<\/a><\/strong><\/span>.<\/p>\n

Khaled Al-Mubayyed: The real estate exchange will gradually eliminate the role of the real estate broker.<\/strong><\/p>\n

At the beginning, Khaled Shaker Al-Mubayyad, who is interested in real estate affairs, spoke, stressing that he is with any organized decision or procedure that benefits the sector, and it is their duty as specialists in this sector to provide advice and measure the impact to evaluate those regulations in a way that benefits the market. Al-Mubayyad pointed out that things are not clear to us as market experts regarding the real estate exchange; will it be with the same name that it was established with, or will it be below the level of the work of the stock exchange? I believe that it is a real estate platform and not a stock exchange, and this is in my personal opinion.<\/p>\n

Al-Mubayyad explained that the real estate exchange has many advantages, as well as some disadvantages. Among them is that it will gradually eliminate the role of the real estate broker or strongly compete with it, given that it is a legally and legislatively recognized entity with all the data and information, which the real estate broker may not be able to compete with. Another negative aspect is that it will enhance the impact of speculation on the real estate market, as it will become easy for a group of traders to agree on raising the prices of certain plots in villages, sub-cities, or even major cities. It will also be easy for monopolies to exist and for control over the prices of some properties to occur, because the exchange facilitates the process of speculation, which does not serve either the end consumer or the real estate developer. Moreover, the price difference between decreases and increases will be rapid and easily controlled by small groups of traders.<\/p>\n

Al-Mubayyad pointed out that there is a legal challenge facing the real estate exchange, which is the inability to inspect the commodity or land before purchase, which may lead in some cases to uncertainty, especially for those who will buy in areas far from them without inspecting them in person, in a way that eliminates ignorance.<\/p>\n

Nasser Al-Harthi: Tracking real estate stock exchange deals<\/strong> It alone is not enough<\/strong><\/p>\n

For his part, Nasser Al-Harthi, a real estate expert, explained that the official launch of the real estate exchange will have an impact on real estate wealth, and the buying, selling and trading of assets, noting that the impact will be gradual and slow until people understand and comprehend the exchange and how to benefit from it.<\/p>\n

Al-Harthi stressed that tracking the real estate exchange index and transactions alone is not enough to analyze the real estate market, explaining that there are transactions that take place outside the real estate exchange platform, which makes it difficult to accurately analyze prices. Al-Harthi called for unifying the real estate index between the Ministry of Justice, the General Authority for Real Estate and the Real Estate Exchange, with clarification of the origin of the transaction, whether it is a sale, mortgage or release of mortgage.<\/p>\n

Al-Harthi believes that the average citizen cannot do without market experts in analyzing real estate stock exchange data, stressing that this field needs specialists, and this is the direction of the General Authority for Real Estate through issuing a draft system of consultations and market analysis, and is waiting for the system to be approved and the licenses to be issued for it.<\/p>\n

At the end of his interview with \u201cAmlak Newspaper\u201d, Nasser Al-Harthi stressed the importance of training workers in the sector on how to analyze real estate market data, and organizing courses that focus on reading and analyzing the real estate index.<\/p>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>What Are Real Estate Professionals Saying After the Launch of the Real Estate Exchange? Survey: Abdullah Al-Salih The Saudi real estate sector recently witnessed the official launch of the Real Estate Exchange, which promotes transparency in transactions; It provides reliable information on the value of transactions within the geographic area specified by the user and offers services for sorting and consolidating real estate deeds using the real estate ID, in collaboration with the Ministry of Municipal, Rural Affairs, and Housing. The exchange has seen \u2026 Read more<\/a><\/p>","protected":false},"author":10,"featured_media":59146,"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":[],"amlak_video_sent":"","footnotes":""},"categories":[114],"tags":[],"class_list":["post-59145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opinions-and-analyses"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak 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