{"id":80847,"date":"2025-07-19T08:17:42","date_gmt":"2025-07-19T05:17:42","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=80847"},"modified":"2025-11-25T20:57:58","modified_gmt":"2025-11-25T20:57:58","slug":"%d8%a8%d8%b1%d9%86%d8%a7%d9%85%d8%ac-%d8%a7%d9%84%d8%b1%d9%87%d9%86-%d8%a7%d9%84%d9%85%d9%8a%d8%b3%d8%b1-%d9%83%d9%8a%d9%81-%d9%8a%d8%a4%d8%ab%d8%b1-%d8%aa%d9%85%d8%af%d9%8a%d8%af%d9%87-3-%d8%b3","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/80847\/","title":{"rendered":"How does the 3-year extension affect the real estate market?"},"content":{"rendered":"

The Cabinet's decision to extend the\u201cConcessionary mortgage<\/a><\/strong>\u201dThe program has eased the burden of the down payment and opened wide horizons for the beneficiaries of housing support, and represents a key pillar in the process of housing transformation and achieving the goals of the Kingdom's Vision 2030 in raising the percentage of ownership to 70%.<\/p>\n

A few days ago, the Council of Ministers, headed by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud - may Allah protect him - approved extending the work Affordable Mortgage Program<\/a> In a strategic move that enhances the ability of Saudi families to own their own homes and pushes the real estate finance sector for further growth and expansion.<\/p>\n

Supporting and empowering citizens<\/span><\/h4>\n

and valued Real Estate Development Fund<\/a> <\/strong>This decision reflects the keenness of the wise leadership to support and empower citizens, especially housing subsidy beneficiaries, to facilitate their access to their first home through innovative financing solutions that ease their financial burdens and provide them with flexible ownership options.<\/p>\n

The fund's spokesperson, Saeed Al-Zahrani, said that Affordable Mortgage Program<\/a><\/strong> It directly contributes to reducing the burden of the down payment from 10% to only 5%, which is one of the most prominent challenges facing citizens when buying their first home. Thanks to this facilitation, the beneficiary can finance up to 95% of the value of the housing unit, provided that its price does not exceed SAR 800,000, allowing him to choose a ready-made or under-construction unit that suits his financing capabilities.<\/p>\n

Al-Zahrani pointed out that the program comes within the national efforts aimed at raising the rate of home ownership among citizens, in line with the objectives of the Housing Program - one of the programs of the Kingdom's Vision 2030 - pointing out that the number of beneficiaries of the program since its launch exceeded 114,638 citizens.<\/p>\n

For his part, Minister of Municipalities and Housing Majid Al-Hogail thanked the leadership for the decision to extend the program, stressing in a tweet on his Twitter account that the program opened the doors of stability for more than 114,000 families, greatly facilitated the journey of ownership and eased the financial burdens on the beneficiaries of housing support.<\/p>\n

\"\"<\/a><\/p>\n

Positive implications for the real estate sector<\/span><\/h4>\n

The extension of the soft mortgage program is expected to have a positive impact on the Saudi real estate sector by stimulating demand for housing units and increasing the movement of real estate financing, especially from the youth segment and middle-income families who had difficulty providing high down payments.<\/p>\n

The program will also raise the level of liquidity in the real estate market and motivate real estate developers to offer more affordable housing products that meet the program's conditions, thus enhancing competition and raising quality.<\/p>\n

By focusing on housing units that do not exceed SAR 800,000, the program directs the market towards medium and affordable housing production, which contributes to addressing the gap between supply and demand in this price range.<\/p>\n

The role of real estate finance and banks<\/span><\/h4>\n

Banks and financial institutions will play a pivotal role in expanding the reach of the program over the next three years, by developing new financing products in line with the terms of the \u201csoft mortgage\u201d and offering flexible and accessible solutions to applicants.<\/p>\n

The decision is expected to increase the volume of mortgage financing granted to individuals and accelerate the growth of the housing sector as one of the pillars of sustainable development in the Kingdom.<\/p>\n

Increasing the homeownership rate<\/span><\/h4>\n

The \u201cEasy Mortgage\u201d program is a cornerstone of the Kingdom's strategy to raise the homeownership rate to 70% by 2030, by enabling citizens to own their first homes without significant financial burdens, and without the need for huge savings to provide the down payment.<\/p>\n

With the extension, more citizens will be able to benefit from the program, enhancing family and social stability and supporting the quality of life in the Kingdom's cities, in line with the directives of the Quality of Life Program and the overall development goals.<\/p>\n

Suitable financing solutions<\/span><\/h4>\n

The Cabinet's decision to extend the \u201cEasy Mortgage\u201d program is a reaffirmation of the Kingdom's commitment to empowering citizens with decent housing and facilitating access to suitable financing solutions. With continued government support, the real estate sector is heading towards a more mature and sustainable stage, ensuring that the needs of citizens are met and the aspirations of Vision 2030 to provide adequate housing for every Saudi family are realized.<\/p>","protected":false},"excerpt":{"rendered":"

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