As one of the most important industries in this country, real estate is an essential factor for the majority of plans you may have for your future. It doesn’t matter if you plan to move or expand your business, you will have to gather as much information as possible on time. Considering how popular Saudi Arabia is among tourists from all around the world, the number of people moving there constantly keeps on growing. Luckily, going through this process will not be a challenge as long as you know what to focus on. To help you avoid making mistakes and find the perfect property, here is your ultimate guide to real estate in Saudi Arabia!
The basic information to help you start
Your research begins way before you actually start exploring the real estate market in Saudi Arabia. If you currently live in another country, it will take some time to get to know this one, and slowly start adapting. Saudi Arabia is home to more than 35.95 million people and in total has 27 major cities. Depending on which area you decide to move to, you will have to focus on different factors that will affect your lifestyle there. Professional movers in Jeddah, which happens to be the capital of KSA, tend to help people move there from all around the world, and all of them expect different things.
The first thing to keep in mind is that Saudi Arabia is an absolute giant when it comes to business and tourism. Some of the world’s biggest companies and organizations have headquarters there, and that matters a lot. You will have a perfect chance to find a suitable job or even start your own small business there. On average, around 20.89 million people visit the country every year and this will significantly impact the real estate market. The demand is always huge, no matter the season, and because of that, you have to be very careful when exploring it.
Law restrictions regarding real estate in Saudi Arabia
This country has strict laws that are not so common in other countries, and you will have to adjust before officially arriving there. For example, you will not be able to bring with you certain items like alcohol, pork products, and used clothes, so make sure to prepare your inventory on time. On the other hand, laws regarding real estate are equally worth mentioning. It is fully regulated by the Ministry of Housing, meaning that you will have to prepare the paperwork and turn it in to them before you start looking for a new home or office space. Since that establishment is in charge of housing policies and residential development, it is better not to make plans until you get the official notice.
As a foreigner, you will be able to buy and own a property in Saudi Arabia, but there will be a couple of things to know. For example, if you are not born there and are not a citizen, you will not be able to own property in Makkah and Medinah. Both places are considered holy cities and the real estate market is closed to foreigners. However, other cities like Jeddah or Dammam will be a perfect option. You will get a chance to find a perfect home and probably get a pretty good deal for it. Shipping companies in Dammam will help you with your inventory and you will be ready to settle in no time.
Types of real estate in Saudi Arabia
In this entire process, the very reason for your relocation matters a lot. it is not the same if you plan on moving there with your family, or if you are moving your company. To save plenty of time and actually achieve a positive outcome, it is good to know what types of real estate will be available for you. Let’s divide them into parts!
Residential real estate
Before choosing suitable relocation services Saudi Arabia offers, you will have to choose a home to move to. And lucky for you, Saudi Arabia has a lot of them to offer, You will be able to choose different types of homes with different pricing, and your chances of finding the perfect one are huge. The most popular ones include apartments and villas. Depending on your budget and needs, there will be a lot of good candidates and all you need to do is set your priorities straight. Both villas and apartments tend to be really beautiful and decorated according to the latest standards.
On average, a 250 feet apartment will cost you around $140K. Considering that this is a huge space, it seems like you can find a really nice place that will fit your budget. Of course, not all apartments are this spacious, and in case you are moving on your own, you should look for something way smaller. Utility bills will be lower and maintenance of the entire place will be much easier.
Business real estate in Saudi Arabia
The second type is equally important and always in high demand. If movers in Riyadh will take care of your office inventory and get it there, you should focus on finding the perfect space for your business. Alongside Jeddah, Riyadh is one of the most suitable cities for your business and career in general. You will be able to find a good job with a stable income and proceed to fulfill all your dreams regarding this part of your life. Business real estate could be found almost anywhere, but the closer you get to the city center, the price can be higher. On average, a four-person office space in Riyadh will cost you around $4K.
Retail and industrial real estate
And finally, you may be looking for something completely different. The demand for larger spaces is high in Saudi Arabia as well, although you should mainly focus on bigger cities. Even if the price may not fit your budget, new businesses will have a much better start off in bigger cities. You will be able to find suitable customers to be back in business sooner than you thought. The good news is that Saudi Arabia has countless malls and almost every one of them offers retail spaces for rent. Of course, if you need sea freight from China to Saudi Arabia or for a similar route, make sure to find the space before you arrive. This will prevent you from waiting and thinking about other solutions for your inventory or products.
The importance of finding a good real estate agent
When you are moving to a different country, it is always good to rely on professionals to help you out. This is not only because it will be easier for you, but also because you may lack experience. And just like professional moving companies in Bahrain will help you with your inventory, a good real estate agent will help you find a perfect property. You may not have enough time to explore the market yourself, and even if you have you may easily damage your budget and end up with a place that is not suitable for you. A professional agent, on the other hand, usually has good reviews, and a lot of experience, and can help you find one in no time.
When it comes to real estate agencies in Saudi Arabia, of course, there is a lot of them. Even if you are doing this for the first time, it will be very easy to recognize them. Firstly, the reviews will say it all. Satisfied customers love sharing their experiences and thanks to the Internet you can check them instantly. Another thing that will mean they are the perfect partners for you is the ability to answer all of your questions. It is understandable if you don’t know a lot about real estate in Saudi Arabia, and they should be able to provide all the details. Once they have a couple of offers for you, don’t rush to make a decision. Take your time and feel free to share all your dilemmas with them.
Renting vs buying real estate in Sudi Arabia
You would be surprised to know that a lot of people will actually decide to rent a place instead of buying one. This doesn’t have a lot to do with the price itself, but more with the fact that people tend to move to Saudi Arabia more often. Keep in mind that newcomers can easily change their minds and decide to move to another city after some time. For example, those who moved to Jeddah suburbs will rely on local movers in Jeddah later to get them closer to the city. The main reasons include a more dynamic lifestyle, a new job, or simply the need to enjoy a more popular area. It is also very common for them to decide to actually buy a property once they are sure the place in question is perfectly suitable for them.
Renting or buying fully depends on you and your needs. The best thing you can do is prepare your budget and see how much you can spend on this entire process. Then, proceed to find a suitable neighborhood and see if it fits your needs and current job. If you already know that something may change or you are short on time, it is better to rent. This way you will have much more time to find a better place to permanently settle in and will stay within your budget the entire time. Again, the real estate agent can help you with this as well, so make sure to let them know about your plans on time.
Best time for checking out the real estate market in KSA
If you ask the residents of this country how long does the tourist season last, they will probably tell you that every day is tourist season. As you know by now, Saudi Arabia is very popular and even in the summer, when the temperatures are really high, a lot of people come to visit. This means that it is not so easy to determine the perfect time for buying or renting a property, but there are still some factors that will make it easier for you. You should definitely avoid doing it in the summer as a lot of people combined with high temperatures will only make you anxious. Even the Riyadh customs clearance can be pretty busy so if you can choose the time yourself, go with spring or early fall.
There will be somewhat fewer people in bigger cities and the entire market will be under less pressure. Import export companies in Saudi Arabia will take care of your inventory or anything you plan on bringing and you can focus on the market in peace. On the other hand, if you have to move during the peak season, don’t panic. Professional movers will help you make it on time and your items will be perfectly safe no matter where you currently reside. As a result, you will manage to find a suitable agent and then proceed to choose a new home or office space without any issues. As long as you remain calm and surround yourself with people who have enough experience, everything will turn out just right.
Even if looking for real estate in Saudi Arabia sometimes sounds difficult, in reality, it can be a really pleasant experience. You will get to know the entire country and its culture and end up in a lovely home or office. Your new community and neighbors will help you adapt and get to know the culture to the fullest. Before you know it, you will praise your decision to move there, as this country is often described as one of the most wonderful and successful in the world.