Saudi Arabia Residential Real Estate Market 2024-2032, Share, Size, Growth, Key Players and Forecast

Residential Real Estate Market in Saudi Arabia 2024:

How Big is the Saudi Arabia Residential Real Estate Industry?

The Saudi Arabia residential real estate market size is projected to exhibit a growth rate (CAGR) of 6.89% during 2024-2032. The market is experiencing significant growth driven by increasing urbanization, rising disposable incomes, and government initiatives to promote affordable housing and real estate development.

Base Year: 2023

Historical Years: 2018-2023

Forecast Years: 2024-2032

Market Growth Rate: (CAGR) of 6.89% (2024-2032)

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Saudi Arabia Residential Real Estate Market Trends:

The market in Saudi Arabia is primarily driven by the increasing population and rapid urbanization, which are intensifying the demand for housing, especially in major cities. Additionally, favorable government initiatives are actively supporting affordable housing development and providing financing options, enhancing market accessibility for middle-income buyers which is providing an impetus to the market. Besides this, introducing programs that offer subsidies and land grants is increasing homeownership rates and contributing to market growth.

Moreover, changing lifestyle patterns among young people are increasing the demand for modern residential units, and their preference for smart, sustainable living spaces is resulting in significant market expansion. Furthermore, inflating disposable income levels and financial stability are encouraging homeownership and investment in property, which is also a significant growth-inducing factor for the market. In addition to this, increasing foreign investor incentives, particularly in the hospitality and residential segments, are widening opportunities for market development.

Saudi Arabia Residential Real Estate Market Scope and Growth Analysis:

The scope of the market in Saudi Arabia is significantly expanding due to the increasing homeownership, driven by programs that provide affordable housing options for Saudi families. Furthermore, the rising of smart city projects is promoting the development of technologically advanced and energy-efficient housing solutions, aligning with global trends and enhancing the market scope. Moreover, the growing adoption of high-quality, sustainable building standards catering to eco-conscious buyers is extending the market reach. Besides this, the construction of mega-projects like NEOM and Qiddiya that include residential spaces is attracting substantial investment into the residential real estate market and is strengthening the market presence.

Additionally, the scope of the market is further enhanced by a heightened focus on creating mixed-use developments that incorporate residential spaces, adding vibrancy to urban centers, and expanding residential options. As per the market analysis, the growing mortgage options tailored for first-time buyers are facilitating accessibility, allowing a broader segment of the population to participate in the real estate market. In addition to this, the increasing interest of international investors in residential projects due to favorable foreign investment policies is enriching the scope of the market.

Saudi Arabia Residential Real Estate Market Report and Segmentation:

The Saudi Arabia Residential Real Estate Market is segmented based on type.

Breakup by Type:

• Condominiums and Apartments
• Villas and Landed Houses

Breakup by Region:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

Top Players Analysis:

The report provides a detailed analysis of the competitive environment. It covers various aspects such as market structure, positioning of key players, top strategies for success, a competitive dashboard, and a company evaluation quadrant. Furthermore, the report includes comprehensive profiles of all major companies.

• (Al Akaria)
• Dar Al Arkan
• Jabal Omar

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Other Key Points Covered in the Report:

• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Market Dynamics
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
• Top Winning Strategies
• Recent Industry News
• Key Technological Trends & Development

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