NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2010/07/23 - Increasing household income and favorable housing finance policies will support housing demand to grow at a CAGR of around 10.6% during 2010-2013, says RNCOS.
According to our new research report “Saudi Arabia Housing Sector Outlook”, despite a big slump in the economy, Saudi Arabia continues to attract massive investments and remains a favorite destination for real estate developers around the world. The recovery of oil prices, continuous government stimulus and gradual relaxation of bank lending are some of the important factors fueling growth in the Kingdom’s residential real-estate market. The report has further revealed that the Kingdom will orchestrate one of the fastest housing demands among the GCC countries in coming 3-4 years.
The research has inferred that the Kingdom is the most populated country in the Gulf with a population of more than 27 Million, and demand for housing far outshines the supply with over 70% of the population aged below 30. In future, demand for affordable housing will continue to outstrip demand for luxury villas as most of the population can afford housing units priced between SR 0.8 Million (US$ 0.21 Million) and SR 3.5 Million (US$ 0.92 Million).
Further, the government’s commitment to the development of the housing industry and favorable policy framework will lead to high level of investment in the housing industry. It is expected that majority of developers will focus on affordable housing projects in coming years. Demand for these affordable housing units will grow rapidly on the strong market fundamentals discussed and analyzed thoroughly in the report.
“Saudi Arabia Housing Sector Outlook” provides an extensive research and objective analysis of the housing industry potential, its components and supporting financing structure. The report provides authentic statistics and information of various trends, including housing ownerships, provincial achievements, category wise housing developments and investments. In addition, the report facilitates an overview of prominent market players operating in the sector.
Most importantly, the report has also given the industry forecast based on correlation of past drivers, challenges and opportunities for expansion. In this way, the report presents a complete and coherent analysis of the Saudi Arabian housing industry and will prove decisive for clients.
RNCOS (rncos.com) specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.