Al-Marsad Newspaper: A specialist in the field of construction, Engineer Nasser Al-Rajhi, revealed his expectations regarding a decrease in the prices of villas and lands in 2023.
He said during an interview with the “Rased” program: “There is a stagnation in real estate prices because of the interest rate, as loans decreased due to the high cost, and many people refrained from buying some houses and apartments, which led to a lack of demand, followed by a decrease in prices.”
He added, “In 2023, the prices of villas will drop to 25%, and lands to 15%.”
video | Construction specialist m. Nasser Al-Rajhi: There is a stagnation in real estate prices due to the interest rate..and in 2023, villa prices will drop to 25%, and lands to 15%#theobserver pic.twitter.com/SVxJVXOr0H
– Al-Rased (@alraasd) December 20, 2022
