IMARC Group, a leading market research company, has recently releases report titled “Saudi Arabia Residential Real Estate Market Report by Type (Condominiums and Apartments, Villas and Landed Houses), and Region 2024-2032”. The study provides a detailed analysis of the industry, including the Saudi Arabia residential real estate market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Saudi Arabia Residential Real Estate Market?
The Saudi Arabia residential real estate market is projected to exhibit a growth rate (CAGR) of 6.89% during 2024-2032.
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Saudi Arabia Residential Real Estate Market Growth:
The Saudi Arabia residential real estate market is witnessing growth due to an escalating demand for cheap housing, which is being driven by population expansion and urbanization. Additionally, initiatives made by government authorities, such as the Sakani program, which aims to provide affordable housing solutions to Saudi citizens, are further augmenting the market.
This trend is likely to encourage the creation of more inexpensive housing developments around the country, meeting the demands of the growing population. Additionally, demographics play a substantial role in shaping the residential real estate landscape. As the population ages, there is an escalating need for retirement communities and downsizing, while younger generations entering the workforce drive demand for starter homes and urban living.
Saudi Arabia Residential Real Estate Market Segmentation:
Breakup by Type:
- Condominiums and Apartments
- Villas and Landed Houses
The report has provided a detailed breakup and analysis of the market based on the type. This includes condominiums and apartments and villas and landed houses.
Breakup by Region:
- Northern and Central Region
- Western Region
- Eastern Region
- Southern Region
The report has also provided a comprehensive analysis of all the major regional markets, which include Northern and Central Region, Western Region, Eastern Region, and Southern Region.
Saudi Arabia Residential Real Estate Market Trends:
The rapid pace of urban development and infrastructure projects is further augmenting the Saudi Arabia residential real estate market. Moreover, the demand for residential, commercial, and infrastructure needs is elevating due to the rising urbanization in cities like Riyadh, Jeddah, and Dammam, which is acting as another growth-inducing factor. This urban growth is driving demand for residential properties, particularly in well-connected and developed areas.
Additionally, the country is diversifying the economy and reducing dependence on oil, resulting in further development in the residential real estate sector as the country seeks to accommodate the needs of a modern, diversified economy, which is expected to bolster the Saudi Arabia residential real estate market over the forecasted period.
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Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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