Research
Kingdom of Saudi Arabia Living Market Dynamics, Q2 2024
Summary and analysis of the Kingdom of Saudi Arabia's current living real estate market conditions.
September 12, 2024
Contributors:
- Saud Alsulaimani
The residential sector in Riyadh and Jeddah recorded a robust start to the year, with a substantial increase in the number of delivered residential units.
The surge in demand for residential units, driven by the younger generation's preference for independent living arrangements, has prompted an innovation wave in housing design.
Given the scale of development, developers are facing challenges such as increasing land costs, particularly in Riyadh, volatile construction costs influenced by global economic headwinds, capacity constraints in the local market, increasing shipping costs, and high costs of financing.
