“Real Estate Forecast: Prices to Remain High in Major Cities”

2023-05-12 17:57:23

Al-Marsad newspaper: Architect Turki Al-Hussaini revealed his expectations regarding real estate prices for the coming period, explaining that prices will not go down, especially in major cities.

He said during an interview with Al-Resala TV: “There is a demand for real estate in major cities, and the supply is scarce, especially Riyadh, which is on the verge of a large population density.”

He pointed out that the price of 500 meters of land currently amounts to 3 million riyals, and prices have increased 5 times. Pointing out that this is a global price hike, not just in the Kingdom.

And he gave advice to young people, saying: “The young man who is sitting thinking regarding buying land, think regarding your next savings, do not waste it on a building that can be completed following 5 years, while you are sitting on borrowing to live in a big house for you.”

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