Khalidiya Center, Office 306,
PO BOX: 10398
Jeddah 21433, Saudi Arabia
The Global Financial Crisis has had an effect on every type of market throughout the world and none more apparent than the real estate markets of the Middle East. But no market stays the same indefinitely and the Saudi property market is clearly showing the best set of conditions in nearly five years.
A significant decline in the amount of properties on the market for sale has created a situation where there is little choice for purchasers. At the same time significant interest rate falls since late 2011 have encouraged more buyers back into the market and this combination of lower numbers of properties for sale and an increased numbers of buyers have led to the best selling conditions in five years.
Will these conditions last forever? The answer has to be no as markets are always changing. Our very low interest environment will not stay with us forever and as the economy picks up we will see interest rates rise once again. We are also speak daily to potential sellers and there are a large number postponing the sale of their properties until early 2013 so we saw an increase in volume of properties for sale in 2014 till today.
So for those thinking of selling at present the current conditions are the best we have seen in five years and should be taken advantage of.