Affordable homes Saudi buyers struggle to find low cost homes

Saudi buyers struggle to find affordable homes - Emirates

Affordable homes Saudi buyers struggle to find low cost affordable homes

There is a shortfall of around one million housing units in Saudi Arabia, the largest Arab economy with a population of 27 million, the report said, citing government sources.With the mortgage market representing only 2 percent of the gross domestic product of the top oil exporter, mortgage credit is limited, making affordability more difficult for low and middle-income earners."Developers continue to show bias towards developing mid to high-income housing units. This has created a large pool of untapped demand for low-cost housing."

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