3 Hrs
Source:
الاقتصادية
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Riyadh housing target reaches 3.3M by 2030
Reports expect residential supply in Riyadh to increase by 17%, reaching 3.3 million units by 2030, compared to the current 2.81 million units, with expansion in Jeddah, Dammam, and Mecca. The Saudi housing market shows limited activity in the second quarter of 2026, as transaction values and volumes declined by 12% and 24.6%, respectively, due to reduced affordability and rising construction costs. The market is focusing on projects with realistic prices and good locations, with some landlords preferring to sell rather than develop, amid regional tensions and a 20% increase in raw material costs. Land deals surged by 50.5% in the second quarter. There is also a variation in performance between cities, with apartment prices increasing geographically in Riyadh while villa prices have decreased. Saudi Arabia is moving toward expanding its use of modern construction techniques to cut the duration of building housing units by 50%.
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