Change is the only constant in Saudi Arabia
Knight Frank’s 2022 Saudi Arabia Real Estate Market Survey, carried out in in partnership with YouGov, has been designed to understand domestic appetite for residential property in the Kingdom, with a particular focus on the attractiveness of the planned Giga projects as investment hotspots.
17 February 2022
Two separate surveys have been undertaken to help us assess and analyse Saudi nationals’ preferences when it comes to living in the Kingdom and investing in its residential real estate sector:
1) Survey 1: 1,003 Saudi national households’ opinions have been gathered across the cities of Riyadh, Jeddah and Dammam, split between those who are tenants and those who are homeowners
2) Survey 2: 55 Saudi national high net worth individuals (HNWI), each with a net worth in excess of US$ 500,000 (excluding their main residence) have been surveyed, to gain the view of the wealthier segment of the population and also to gauge the size of the Kingdom’s rapidly emerging second homes market.
The surveys have been designed to capture sentiment, which we feel is a better indicator of future capital allocation, rather than deals themselves.
Our report investigates the drivers behind the intentions of all the survey respondents, which provides a useful steer on future investment intentions in terms of the type of residential assets they are likely to target.
The surveys have a particular focus on the Kingdom’s giga-projects, where we understand starting ticket prices are expected to be in the region of US$1 million (c. SAR 3.75 million), hinting strongly that the target for these homes is likely to be the country’s HNWI population.
Discover The full Saudi Arabia Residential Survey 2022
