沙特阿拉伯住宅市场回顾2024-25冬季

A biannual review of key trends and the performance ofSaudi Arabia’s residential market Winter 2024-25 MARKET ROUND UP RIYADH What you need to know What you need to know •Mortgage issuance rebounded in 2024, up 17.7% to SAR93.6bn, mainly for villa purchases.•The Premium Residency Visa unlocked real estate toforeign investors, allowing residency through propertypurchases priced at over US$1 million which has thepotential to reshaping demand. •In 2024, apartment prices grew by 10.6% and villa pricesby 6.3%, with areas like Al Wadi experiencing a 49% rise.Affordability issues and changing lifestyle preferencesare driving a shift toward apartments. •In 2024, the total number of all real estate transactions(all sectors) grew by 37% to 236,690 deals, totaling SAR267.8bn, with residential sales up 38% to 202,661 dealsworth SAR 164.8bn. •Nearly half of all new jobs in Saudi Arabia over the pastfive years have been created in Riyadh, fuelled by theRegional HQ Program, driving a substantial increase inhousing demand, both for purchase and rent. •The housing supply in Riyadh grew by 49,400 units in2024, bringing the city’s total to 1.4 million homes. •According to our estimate Riyadh’s population is setto grow by 38% from 2022 to 2030, further intensifyinghousing demand. Government plans for 330,000 newunits, including 305,000 for Saudi nationals, will supportthe 2030 70% homeownership target. •The housing supply across major metropolitan areas isset to grow from 3.5 million at present to 3.9 million unitsby 2028. DAMMAM METROPOLITANAREA (DMA) JEDDAH What you need to know What you need to know •The Ministry of Housing added 2,838 units in 2024 acrossnine projects, including Sadeen Suburb (1,107 units) andAl Wajiha (590 units), with 22,000 units in the pipeline. •Apartment prices rose 3.1%, averaging SAR 4,215 psm,while villa prices dipped 1.7% to SAR 5,000 psm. Premiumdistricts like Al Shatea and Al Khaldiyah maintainedhigher villa prices. •The residential market in the Dammam MetropolitanArea (DMA) saw strong growth in 2024, with transactionvolumes up 49% (11,275 deals) and transaction valuesrising 44% to SAR 13.5bn. •US$ 134bn of investment in real estate and infrastructureisrevitalising Jeddah’s economy,reversing internalmigrationto an extent,boosting job creation,andincreasing housing demand. •Tilal Real Estates unveiled the Heart of Khobar, one of themost prominent projects in the DMA, spanning 268,813sqm. It offers family-oriented housing in a sustainableurban setting with 89% pedestrian mobility. •The total housing stock grew by 17,830 new units in 2024,bringing total to 909,360 units. We expect this figure torise to 965,150 units by 2027. Key projects expected to bedelivered in the next three years include Venan HousingProject (1,708 units), Telal Goroob (3,392 units), and SamaJeddah Housing Project (858 units). •Apartment prices in the DMA increased by 6.2% to anaverage of SAR 3,743 psm. Khobar (SAR 4,070 psm)continues to lead in terms of its performance. •In 2024, Jeddah’s housing market saw the highest growthin the value and volume of transactions nationally.Indeed, residential transactions increased by 53% whilethe total value of deals rose by 43%, in large part drivenby the Saudi Central Bank’s down payment reductionfrom 30% to 5% for Saudi nationals. •Villa prices in the DMA rose by 2.7% reaching an averageof SAR 3,530 psm. Market performance indicators Market performance indicators MAKKAH AND MADINAH What you need to know •Apartmentprices in Makkah increased by 0.5%in2024, while villa prices declined by 1.5%. Affordablehousing projects, such as Makkah Gate (8,500 units) willcontribute to an increase in the total housing stock whichwe expect will rise by 5.6% to 453,000 unites by 2027. •The influx of 18.5 million pilgrims in 2024 contributedto an increase in demand for short-term rentals andserviced apartments. MOHAMAD ITANI SUSAN AMAWI FAISAL DURRANI •The residential market in Makkah experienced a 12%increase in transaction volumes during 2024 while totaldeal values rose by 10%. Partner - Residential Sales and Marketing Projectsmohamad.itani@me.knightfrank.com General Manager - KSAsusan.amawi@me.knightfrank.com Partner - Head of Research, MENAfaisal.durrani@me.knightfrank.com •New developments in Madinah, like Al Jewar HousingComplex (1,227 units), contributed to the 7,040 new unitsdelivered in 2024, with 20,560 more expected by 2027. •The residential market in the Madinah experiencedgrowth during 2024, with transaction volumes up 45%and transaction values rising 29%. Apartment prices inMadinah rose by 6.6%, while villa prices remained stable. STEPHEN FLANAGAN, MRICS HARMEN DE JONG AMAR HUSSAIN Regional Partner - Head of Consultancy, MENAharmen.dejong@me.knightfrank.com Regional Partner - Head of Valuation and Advisory, MENAstephen.flanagan@me.knightfrank.com Associate Partner - Research, MEamar.hussain@me.knightfrank.com Market performance indicators SAME