A good time to buy a condo in Saudi Arabia ?

  A good time to buy a condo in Saudi Arabia ?

The Saudi Housing Ministry has provided many housing products and programs to raise the percentage of property ownership for citizens, but some are still reluctant to take a step toward buying, probably a bet on the decline in real estate prices.In this context, the Assistant Director-General for investment capital, Khalid Ali, in an interview with Al-Arabi advises anyone who wishes to buy a dwelling by foot on this step, considering that it is the "right time" to buy under appropriate prices, appropriate funding and programmes offered by the Ministry of Housing, categorically denying collapses in real estate prices, as some are betting, although there will be "very limited" declines.He pointed out that real estate prices in the areas around major cities had seen limited declines in the last period, ranging from 20 to 30 percent.The Ministry of Housing has encouraged banks to finance developers within the "Wafi" program, but banks are waiting for the regulation of the mortgage system to expand lending to individuals, my entrance noted.In a related context, my input confirmed that white land charges are the "effective" means of reviving the housing supply, noting that the white land area registered in Mecca after the expiry of the registration deadline exceeded 15 million square meters.

Striking landing at the prices of apartments I take the opportunity.

With increasing popularity, the private sector has pumped thousands of new apartments over the past few years, allowing the average flat rate to fall to to its lowest levels in the last three years at less than 540 thousand riyals, compared to about 605 thousand riyals, a decrease of 11%.Observers attribute this retreat to the high competitiveness of the apartment sector, under increasing supply, and the development of the same residential product to meet contemporary needs, as well as relatively reduced construction costs, as well as factors associated with economic cycle conditions.It is forecast that Jeddah, in particular, is a candidate for a large physical movement in the sector, with the largest stock of white land in the kingdom, with an area of approximately 160 million square meters, and 40% of all white land in Riyadh and Dammam and Jeddah.The apartment market will find an additional incentive for subsidized housing finance products, which will be announced by the Ministry of Housing, with a total of 7,300 loans this year in the whole of Saudi Arabia.

19 thousand real Estate scholarships in Saudi Arabia for 10 months.

Saudi courts have documented 19,358 government property grants distributed by the district secretariats to citizens in the past 10 months of the current Hijri year, where the Mecca region has accounted for 30.7% of these grants, according to the economic newspaper.According to a report by the paper, the number of grants registered by the courts in the Makkah area was 5941 scholarships, followed by the Riyadh area documenting 5255grant, followed by the eastern region by 1823 scholarships, while the documentation was low for the same period of the last year by about 8%.The number of scholarships registered in the Najran district courts was 441, followed by the Al-Baha area with 428 scholarships, and the Al-Jouf area by 389, while the Qassim district courts did not register government grants.

Egyptian real estate market between rising demand and new projects

Investment and housing ministers discussed with Egypt's president the construction of an investment project in the new city of al-Alam in northern Egypt, the Egyptian investment ministry said.Sahar Nasr, Minister of Investment and Mohammad al-Dahr, president of Egypt's reconstruction, on Saturday inspected the proposed land for the project, the ministry said in a statement.The statement was devoid of any financial estimates or schedule.The country's reconstruction investment portfolio in Egypt is about 53 billion pounds according to its website."A number of projects are being set up in the new administrative capital," said the painter in the statement. New science, in Cairo and South Sinai as part of its eagerness to support the Egyptian economy and contribute to the creation of jobs for young people. "Al-Abbar had an interview with Egyptian Investment minister last week to discuss the construction of projects in the new administrative capital.One of Egypt's most important reconstruction projects (August Town Cairo), which is 4.5 million square meters, is located at an altitude of 200 meters above sea level and a project moorland, which is located on the Mediterranean coast of 6.5 square kilometers and the Mevida project, is 3.8 million square meters in the fifth assembly in Cairo.Mustafa Medpoli, housing minister, said in the statement that his ministry was ready to "allocate suitable land to the Emirati investor... In the new (science) partnership with the Government to ensure that the area is suitable for completion of the project as soon as possible. "

Saudi real estate investment Market in the last 7 months

The profits of the Saudi real estate market declined during the first seven months of this year, with a total value of 27.5 percent, to stabilize the total transaction value real estate at 122.3 billion riyals, compared to SR 168.7 billion for the same period last year, which is more than SR 46 billion, as published by "Economic".A comparison of total real estate market transactions took place during the first seven months of this year and the same period of the year 2014 any local real estate market peak, which then reached SR 273.8 billion during the same period. The real estate market showed heavy losses of 151.5 billion riyals, or 55.3 percent (the housing sector fell by 55.5 percent and the trade sector fell 55 percent).Total real estate transactions declined during the first seven months of this year, compared to the same period last year by 5.5%, and the decline compared with the same period in 2014 to 31.3%.One of the main factors influencing the real estate market is the decline in oil prices by approximately 58.3% during the period from mid-2014 to the present, and the continuation of that decline over the following years. Government oil revenues decreased by 63.5 per cent during the period 2014-2016, as a direct result of the decline in oil prices. In addition, the annual growth rate of domestic liquidity has slowed to its lowest levels over the past two decades (1.5% in June 2017) and the registration the annual growth of bank credit during the same period of negative growth rate (-1.4% in June 2017), according to the "economic" report.Along with the launching of the largest structural reform of the national economy within the "Vision 2030", which aims to transform the national economy from overdependence on oil as a single source of income, to an economy based on a diverse and multiple production base, these transformations are expected to eliminate most of the structural distortions domestically, primarily the monopolization and speculation of land.