Villas for rent in Saudi

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To buy or to rent, that is the question


To buy or to rent, that is the question

And it is a very common question amongst the local population. More than ever, people are very much interested in the latest real estate news, following up on government reforms and initiatives aimed at providing more affordable housing for the public. Social media is trending on real estate news and property prices, especially as demand for cheaper homes is at an all time high.


It is normal to see local families choosing a villa for rent in Saudi rather than buying, as they are waiting for the reforms to take effect in hopes of sale prices going down. This is why there has been a recent decrease in purchase transactions for apartments and villas for sale. Arab expats are more prone towards the lease market too, while Westerners often opt for compound villas / apartments.


The government is working closely with the private sector to further understand the true needs of the people, setting plans to close the supply and demand gap in the near future. HRH Deputy Crown Prince Mohamed Bin Salman Al Saud has communicated the 2030 vision, sharing a blueprint for improving the real estate dynamics for both locals and expatriates. The goal is to prepare unused land for development and increase the housing supply in areas the match the needs of the people.


With the 2030 vision beginning to roll out in 2016, the near future promises more options in terms of home types and prices for the public.


Saudi
Saudi

What’s the ideal villa for rent in Saudi

What’s the ideal villa for rent in Saudi

Families have different property needs on their wish lists. Some are keen on features such as central air conditioning, fitted kitchens, and a swimming pool. Others are more interested in the location of the property. One family may be only looking for luxurious villas, while others prefer something cheap that they can fix themselves.


If you are looking for a villa for rent in Saudi, the first thing you must determine is your budget. Based on affordability, you may need to shift your search towards apartments for rent or you may be able to upgrade your request and look for compounds for rent in Saudi. 


Secondly, it is important to narrow down the location. Do you want to be in the center of the city or away from the hustle and bustle? Keep in mind that traffic can be rough during peak hours, so being close to your children’s school and your office can vastly improve your daily commute.


It is also recommended that prioritize your wish list. Ask yourself what is important for your family and what you are willing to compromise on.


Finally, it is highly advised that you go through a licensed real estate broker. The broker can offer valuable information on average home prices, new opportunities, and even provide professional advice on contract negotiation and closing. If you plan on renovating the villa, then you may be able to negotiate the rental price and contract duration. Being on good terms with your real estate broker can have a lot of benefits, especially if you plan on staying in the villa for a long time.