Saudi Arabia
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Foreigners are permitted to buy and own real estate in Saudi Arabia, however, it is subjected to the approval of the licensing authority. It is important to mention that foreign ownership in terms of property is forbidden in the cities of Mecca and Medina, except by the way of inheritance. Non Saudi-Muslims can obtain lease up to two years in these particular cities. These leases are renewable for the same time period.

Buying a property in Saudi Arabia could be similar to making an investment, however, it is always suggested to be ready to take into account the requirements of the property. Different costs such as maintenance, mortgage processing fees, cost of settlement, down payments as well as building insurance shall also be considered while buying property in Saudi Arabia.

The foreign investors are also given a permission to purchase private land in the country for the purpose of investment and construction. However, this process requires a prior approval from the government and projects and buildings for this purpose must be valued for more than SAR30 million respectively, including land as well as construction costs.

The price of the property could be negotiated in between the buyer and seller facilitators including the lawyers as well as land brokers who arrange for the private land sales. Once the agreement of private purchase has been negotiated, an investor must visit the local Sharia Court in order to make sure that the land in question is owned by the seller and the transfer of the title must be recorded in this context.

Finally, the court stamps the title document in order to indicate the legal transfer of ownership. The entire process of registering the property within the country has three different procedures and the same takes a period of six days in completion. Lastly, various taxes are levied upon buying property in Saudi Arabia.

Population In Saudi Arabia

Population
35.0027.64%
Population Change
27.42 MillionYear 2010

GDP In Saudi Arabia

GDP
70032.08%
GDP Change
530 BillionYear 2010

Inflation Rate

Inflation Rate
2.30%-86.63%
Inflation Rate Change
17.2 %Year 2010

Unemployment Rate

Unemployment Rate
6.90%23.21%
Unemployment Rate Change
5.6 %Year 2010

Loan Growth

Loan Growth
N/A 0.00 %
Loan Growth Change
N/A

Lending Rate

Lending Rate
-nan%
Lending Rate Change
-Year -

Tourism Revenue

Tourism Revenue
16975 Million125.25%
Tourism Revenue Change
7536 MillionYear 2010

Tourism Arrivals

Tourism Arrivals
15.33 Million41.29%
Tourism Arrivals Change
10.85 BillionYear 2010

Terrorism Index

Terrorism Index
5.24 %117.43%
Terrorism Index Change
2.41 %Year 2010

Crime Index

Crime Index
N/A 0.00 %
Crime Index Change
N/A

Average Monthly Net Salary

Avg Monthly Net Salary
N/A 0.00 %
Avg Monthly Net Salary Change
N/A

Home Ownership Rate

Home Ownership Rate
N/A 0.00 %
Home Ownership Rate Change
N/A

Housing Price Index

Housing Price Index
N/A 0.00 %
Housing Price Index Change
N/A

Rent Today

Rent Today
N/A 0.00 %
Rent Today Change
N/A

Rent per sq m Today

Rent per sq m Today
N/A 0.00 %
Rent per sq m Today Change
N/A

Rental Yield Today

Rental Yield Today
N/A 0.00 %
Rental Yield Today Change
N/A

Price to rent ratio today

Price to rent ratio today
N/A 0.00 %
Price to rent ratio today Change
N/A

Price to gdp per cap

Price to gdp per cap
N/A 0.00 %
Price to gdp per cap Change
N/A

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