The Rising Prices of Residential Apartment Rents: Insights from Real Estate Specialist Sultan Al-Jabali

2023-10-12 18:26:38

Al-Marsad newspaper: Real estate specialist Sultan Al-Jabali revealed the reason for the high prices for residential apartment rents.

Al-Jabali said during his interview on the Ya Hala program: Less than a year ago, we noticed a significant increase in real estate prices because real estate owners became developers, so they began constructing apartments for the purpose of selling at a greater interest, so as not to wait for the return or rent, as he quickly achieves a profit within a year, a year and a half, or two years. The best thing to do is expect a property that will generate a return after 12 years.

He continued: Most of the real estate owners who were renting turned to real estate development, and the rise in prices in the recent period is due to the lack of supply, especially in Riyadh.

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