Prime Highlights
- Saudi realty transactions amounted to SR1.2 trillion over two years.
- More than 8 million realty deals and 86,000 licensed agents registered.
Key Facts
- 2022 Real Estate Brokerage Law fueled a 17% increase in transactions during the first year.
- Target of homeownership by 2030 set at 70% from 63.7% in 2023.
Key Background
Saudi real estate is rapidly developing under the stimulus of strategic reform and Vision 2030 ambitions. Between July 2023 and July 2025, the sector experienced SR1.2 trillion worth of property transactions, indicating the effectiveness of regulatory transformation and digital solution adoption in the sector. They are at the core of the Kingdom’s attempts to raise the proportion of owners within the population and boost investment in the real estate sector as part of its broader economic diversification strategy.
The Real Estate Brokerage Law 2022 changed the game of the real estate business. Professional certification, uniform contracts, and better regulatory enforcement were mandated by the law, which promoted a more transparent and credible marketplace. This has resulted in over 86,000 brokers being certified, and over 75 online portals for real estate transactions. The sites combined have made more than 685,000 authenticated property listings, proof of an technology-driven property buying and selling model.
During the first year after the new law, the market registered a 17% increase in real estate transactions, with SR605 billion worth of transactions occurring. This is a test of enhanced trust, improved regulation, and convenience of online services. More than 8 million real estate transactions were also registered, further confirming heightened activity and customer engagement.
Government initiatives are most closely associated with Vision 2030’s goal of raising Saudi homeownership to 70%. The figure is currently at 63.7% and is being achieved through consistent annual increases. Through forums, strategic alliances, and higher standards of planning, the government is continuing to upgrade urban facades and align real estate development with national economic objectives. These coordinated efforts are not only increasing living standards but are also converting the real estate sector into the fulcrum of Saudi Arabia’s non-oil economy.
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