Via Valentina Pasquali in agbi.com: Housing became a scarce commodity in Saudi Arabia in 2024. Expat workers flocked to Riyadh, attracted by the Vision 2030 push. Government policies boosted the home ownership rate for nationals. Rising land and construction costs also made housing and commercial units more expensive, says Imad Damrah, Colliers’ managing director for Saudi Arabia. “Freehold residential apartments in high-rise towers in Riyadh performed strongly, as did affordable National Housing Company residential communities,” Damrah tells AGBI. Residential sale numbers in the capital climbed 31 percent year on year in the third quarter, CBRE says. Average villa and apartment prices rose five and four percent respectively.
