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Considering buying a nice property in Riyadh? You're not alone!
Many people are captivated by Riyadh's modern vibe and dream of owning a luxurious villa or a stylish apartment in this city.
Does it make sense from a financial perspective, though? Are property prices increasing in Riyadh? How much does it cost? Is it better to buy in Al-Malaz or Al-Olaya?Are there any secret taxes? Where can I get a rental yield above 7%?
We've solved it for you.
The SandsOfWealth team has really dug into this market. Actually, we've organized all our findings in a pack.
In this article, we're happy to share useful information with you.
How is the real estate market in Riyadh?
Is the property market thriving or struggling? We'll find the answers through data analysis.
Types of properties
Buying vs Renting
Whether you're considering settling in Riyadh or already living there, you might be thinking about the pros and cons of buying versus renting a property in this bustling Saudi Arabian city.
It's better to buy if you want to have long-term financial security in Riyadh.
To make a good decision, consider the property price-to-rent ratio. You can use this number to see how long it will take to recover the property's cost through rental earnings.
According to Numbeo, the property price-to-rent ratio in Riyadh is around 9.14, which is one of the lowest in the world. It means that, on average, you would only need 9 years of rental payments to actually purchase a property.