Saudi Arabia Real Estate Market Growth, Share, Size, and Research Report 2024-2032
11 Feb, 2025
Saudi Arabia Real Estate Market Outlook
Base Year: 2023
Historical Years: 2018-2023
Forecast Years: 2024-2032
Market Size in 2023: USD 67.2 Billion
Market Forecast in 2032: USD 126.8 Billion
Market Growth Rate: 7.30% (2024-2032)
The Saudi Arabia real estate market was valued at USD 67.2 Billion in 2023 and is projected to grow to USD 126.8 Billion by 2032, with an expected compound annual growth rate (CAGR) of 7.30% from 2024 to 2032.
Saudi Arabia Real Estate Market Trends:
The Saudi Arabia real estate market is experiencing dynamic shifts due to the economic diversification efforts of the country and the changes in consumer preferences. Residential demand continues to be robust, with key cities such as Riyadh, Jeddah, and Dammam showing strength, due to the growth of population and enhanced government spending on infrastructure. Affordable housing projects are gaining traction with middle-income buyers, while luxury properties continue to attract high-net-worth individuals. On top of that, the commercial sector is growing further, with high demand for offices and retail shop spaces, fuelled by businesses expansion and rapid growth of the e-commerce.
In addition to this, there is a higher demand for hospitality and tourism in short-term letting and hotel constructions, which ties in with efforts to make this country a prime destination for tourists worldwide. Essentially, there is an interest surge by foreign investors into the market as the regulatory reforms and transparency improvement also boost interest in the sector. Sustainability has become a focal point, as developers are more interested in including green building practices that meet the environment standards and consumers' expectations. Overall, the Saudi real estate market will have steady growth based on strategic initiatives, urbanization, and the favorable investment climate.
Saudi Arabia Real Estate Market Scope and Growth Analysis:
This Saudi Arabia real estate market is very fast developing nowadays, stimulated by economic diversification efforts and rapid urbanization coupled with high population demand. With the development of infrastructure by the government, investor confidence was increased, hence boosting the sector significantly to a contributor to the GDP of the nation. Residential properties continue to experience the highest demand rate, especially across major cities including Riyadh, Jeddah, and Dammam, while a growing population of middle income and expats. Commercial also continues to go up with increased new business outlets and retail markets.
Also the introduction of different initiatives to further enhance transparency to ease property ownership has attracted investments from local to international investors. Basically, the market is benefited from the development of the mega-project and smart city, which recycles the urban model. Hospitality and tourism market flows add to the real estate growth of hotels and short-term rentals. Further, the addition of technology and proptech usage has streamlined processes and improved market efficacy. Overall, the Saudi real estate market is expected to continue growing in the long term, supported by favorable economic conditions, strategic government policies, and evolving consumer preferences.
We explore the factors propelling the Saudi Arabia real estate market growth, including technological advancements, consumer behaviors, and regulatory changes.
Saudi Arabia Real Estate Market Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest Saudi Arabia real estate market share. It includes forecasts for the period 2024-2032 and historical data from 2018-2023 for the following segments.
Comprehensive Mapping of the Competitive Landscape
Top Winning Strategies
Recent Industry News
Key Technological Trends & Development
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
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