Saudi Arabia Residential Real Estate Market

Saudi Arabia Residential Real Estate Market by Types (Condominiums, Villas, and Others) and Country - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: CM-1848
  • Author: Growth Market Reports
  • Rating: 4.9
  • Total Reviews: 3
  • No. Of Pages: 215
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The Saudi Arabia residential real estate market size is expected to expand at a CAGR of 11.9% during the forecast period, 2021–2028. The growth of the market is attributed to the rising population of the country.

Saudi Arabia Residential Real Estate Market

In 2020, Saudi Arabia’s population was around 32 million, and it is growing at an annual rate of 2%. Since 45% of the country’s population is under the age of 20, young middle-class people dominated the purchase of houses. In 2019, the real estate transaction volume in major Saudi cities increased significantly. According to the 2030 Vision, the government intends to double the contribution of real estate to the country's GDP to 10% by 2020.

The residential real estate market includes transactions such as sale, lease, and purchase of residential properties, such as villas, bungalows, and apartments. In the past few decades, the global residential real estate industry has achieved a commendable growth due to rapid urbanization in developing regions. Several large cities in developing countries have high requirements. Many government state bodies around the world are actively working to provide affordable housing, providing various profit opportunities for market participants around the world. The rapid urbanization has led to an increase in per capita income in various regions. This change has led to a substantial rise in the number of tourists, thereby significantly improving the efficiency of the real estate industry.

The total housing supply in Riyadh in 2018 was estimated to be approximately 1.29 million units, up by 200,000 units in 2017. In Jeddah, the total housing supply in 2018 was 817,000 units, which was also an increase from the 813,000 units registered at the end of 2017. However, the housing supply in Riyadh is expected to increase by approximately 30,000 units by 2020. Jeddah’s housing supply is expected to increase by 16,000 units in 2020. Despite the current slowdown in the country’s housing market, demand for low- and middle-income housing in Riyadh, Jeddah and DMA (Dammam Metropolitan Area) remained strong in 2020.

Market Trends, Drivers, Restraints, and Opportunities

  • Increasing demand for affordable housing units is expected to boost the market growth during the forecast period.
  • Rapid growth of the construction industry is driving the market growth in the coming years.
  • Government initiatives, such as encouraging developers to build affordable housing projects, thereby encouraging banks to introduce more residential real estate financing methods, is expected to fuel the market growth during the forecast period.
  • Increasing focus of the government in the country on departing immigrants can restrict the market growth during the forecast period.
  • Lack of housing spaces and mortgage regulation can create challenges for the market growth during the forecast period.
  • Ongoing technological advancements in the construction industry and initiatives taken by Saudi Arabian housing ministry for launching affordable housing projects are projected to create immense opportunities for the market players.

Scope of the Report

The report on the Saudi Arabia residential real estate market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Residential Real Estate Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Types (Condominiums, Villas, and Others)

Geographical Zone

Saudi Arabia

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Jabal Omar Development Company, AI Sedan Holding Company, Emaar, Sedco Development, and Abdul Latif Jamal

Saudi Arabia Residential Real Estate Market Segment Insights

Condominiums segment is projected to represent a major market share

Based on types, the market is divided into condominiums, villas, and others. The condominiums segment is expected to represent a key market share during the forecast period due to increasing population and migration to urban areas. The profits associated with condominiums profit are high and financial backers usually buy townhouses that are yet under development. They aim of selling them for a profit margin of over 20%, which is expected to drive the segment growth.

Saudi Arabia Residential Real Estate Market

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Residential Real Estate Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Residential Real Estate Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Residential Real Estate Market - Supply Chain
  4.5. Global Residential Real Estate Market Forecast
     4.5.1. Residential Real Estate Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Residential Real Estate Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Residential Real Estate Market Absolute $ Opportunity
5. Global Residential Real Estate Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Residential Real Estate Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Residential Real Estate Demand Share Forecast, 2019-2026
6. North America Residential Real Estate Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Residential Real Estate Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Residential Real Estate Demand Share Forecast, 2019-2026
7. Latin America Residential Real Estate Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Residential Real Estate Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Residential Real Estate Demand Share Forecast, 2019-2026
8. Europe Residential Real Estate Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Residential Real Estate Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Residential Real Estate Demand Share Forecast, 2019-2026
9. Asia Pacific Residential Real Estate Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Residential Real Estate Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Residential Real Estate Demand Share Forecast, 2019-2026
10. Middle East & Africa Residential Real Estate Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Residential Real Estate Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Residential Real Estate Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Residential Real Estate Market: Market Share Analysis
  11.2. Residential Real Estate Distributors and Customers
  11.3. Residential Real Estate Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. Jabal Omar Development Company AI Sedan Holding Company Emaar Sedco Development Abdul Latif Jamal

Segments Covered in the Report

The Saudi Arabia residential real estate market has been segmented on the basis of

Types

  • Condominiums
  • Villas
  • Others

Country

  • Saudi Arabia

Key Players

  • Jabal Omar Development Company
  • AI Sedan Holding Company
  • Emaar
  • Sedco Development
  • Abdul Latif Jamal

Key players competing in the residential real estate market include Jabal Omar Development Company, AI Sedan Holding Company, Emaar, Sedco Development, and Abdul Latif Jamal

The government’s vision of reducing its reliance on the oil industry and diversifying into other industries, especially real estate, has driven the growth of Saudi Arabia’s real estate industry. The market is fiercely competitive, and the demand for new properties is also growing due to the increasing commercial activities and intensified competition. The competition among developers mainly focuses on parameters such as property location, upcoming projects, construction costs, and company reputation.

Saudi Arabia Residential Real Estate Market

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