Grendal
Joined: 13 Aug 2009
Posts: 861
Location: Lurking in the depths of the Faisaliah Tower underground parking.
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 Posted: Sat Apr 21, 2012 4:11 pm Post subject: Re: property prices in riyadh and jeddah |
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| desert_traveller wrote: |
i have heard and read a lot about how rents are much lower in jeddah than in riyadh. my experience did not prove this. now i have read this article that also suggests that in fact this is not the case. link and excerpts:
http://www.globalpropertyguide.com/Middle-East/Saudi-Arabia/Price-History
During 2011:
In Jeddah, there was a 15% rise in average sales price of single-family dwellings (villas and duplexes) to SAR3,980 (US$1,061) per sq. m. in 2011, while the average sales price of multi-family dwellings (apartments) rose by 14% to SAR2,450 (US$653) per sq. m.
In Riyadh, the capital, there was a 9% rise in the average price of single-family dwellings (villas and duplexes), to SAR3,150 (US$840) per square metre (sq. m)., according to Colliers International GCC. Likewise, there was an 8% rise in the average price of multi-family dwellings (apartments) to SAR2,860 (US$762) per sq. m.
so it seems that while so-called multi-family dwellings are indeed a bit (16%) more expensive in riyadh, single-family dwellings are a lot (26%) more expensive in jeddah. so i really think it all depends on what you are looking for, and all in all, i would not say jeddah is a lot cheaper than riyadh as far as property is concerned. this might have been the case in the past, but now, in fact, according to this article, quite the opposite is true, and on average, jeddah already seems to be more expensive than riyadh, and, on top of that, property prices also seem to be increasing at a higher pace than in riyadh
(assuming property prices correlate with rents) |
Good question!
My experience is usually the closer you are to a mosque the higher the rents. Location, location, location.
Regards.
Grendal
p.s. I pay less rent because I'm exactly halfway between two mesjids. 150 meters each way. A long walk for a Saudi on a hot day. |
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