Apartments for sale in Saudi

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Note: The numbers shown in the calculator are approximate and are based on 15% down payment and 6.489% APR for SR 750,000 financed amount.

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Younger generation in search for the right apartment for sale in Riyadh

The dynamics of Saudi Arabia are surely changing with the rise of a younger generation. The country is modernizing, the culture is diversifying, and family needs are being reshaped. Previously, life was considered a lot simpler and people had little trouble deciding where to live, work, or study.

Today’s world requires a lot more effort, especially as families nowadays have so much more to choose from, so reaching the right decision can be quite overwhelming.


While the older generation was more interested in seeking larger villas for sale in Saudi , families today are looking for smaller homes, such as a flat for sale in Riyadh. Small unit families are less interested in big spaces that come with high costs and maintenance requirements. Instead, they are seeking more affordable homes which are located in prime locations in Riyadh, such as the Diplomatic Quarters, Yasmin, Malaz, Sulaimaniya, or Olaya.

Now that the capital city has drastically expanded, people want to live near school, work, and shopping facilities. It is also very important that they remain close to family members.


They are also keen on purchasing apartments with neat finishing, i.e. quality flooring, bathrooms, kitchens, and paint job. The last thing they want do is invest in an apartment for sale in Riyadh and have to pay even more to flip or fix it. New housing developments are meeting those requirements, but are very expensive. This is why the Government has set plans to provide more affordable homes for the public.


Riyadh
Riyadh

To rent or invest in apartment for sale in Riyadh?

Housing prices are quite high at the moment, and part of the Vision 2030 plan is to narrow the supply/demand gap for reasonably priced units by developing unused whiteland into much needed residential complexes. At present, people are reverting towards apartments for rent in Saudi simply because buying prices are beyond their means and mortgages are difficult to maintain. As solid plans are underway,

the future looks more promising with the Ministry of Housing’s announcement of over 150 development projects in the pipeline. The Government has committed to work closely with the private real estate sector to effectively solve the housing problem.


Since then, there have been many new development expansions in highly sought districts in north Riyadh. Many people prefer to live up north especially because most of the international schools have relocated there and communities are very well serviced with shopping malls, supermarkets, stores, gyms, and restaurants. One rarely has to make a trip downtown anymore, and this is a huge advantage considering the very bad traffic resulting from the metro project, which has lead to closed roads and detours.


Every market has its ups and downs, which is why it is very important for the property buyer to do comprehensive research before signing the cheque. It is also highly advisable to go through a licensed real estate broker who can give invaluable advice on market prices, high-demand districts, and quality of developments. Such a big investment requires professionalism, and this can only be attained through licensed real estate professionals.