Major Saudi cities are witnessing increasing demand for ownership apartments as a housing option for families, with prices ranging from 500,000 to 1 million SAR, making them suitable for small families. Prices are determined based on location, size, quality, and services, amid price fluctuations linked to real estate balance decisions.
Real estate specialists confirmed that companies and developers are cautiously reassessing the feasibility of their projects, focusing on managing cash flows more flexibly through phased sales or investment partnerships.
Khalid Al-Mohsen, CEO of Ofoq Al-Ula Real Estate, explained that rising financing costs temporarily slow the market, but companies with financial and managerial flexibility will continue measured expansion, with careful cost reviews to minimize risks.
Real estate expert Khalid Al-Humaid pointed out that the growth of the ownership apartments sector remains limited due to competition, while rental rates remain stable—except in Riyadh, which has seen price stabilization for years. He added that the impact of real estate balancing on lowering prices requires a few months to become clearly visible.
Additionally, Turki Al-Mutairi, a real estate marketer, highlighted the trend of some apartment owners using units for daily or monthly rentals through tourist apps, which reduces the impact of increased ownership apartments on the annual rental market.
