Saudi Arabia’s Home Ownership Rate Hits 65.4% Ahead of 2025 Goal

Saudi Arabia’s home ownership rate reached 65.4% by the end of 2024, surpassing the 2025 target of 65%, according to the Housing Program’s annual report. The achievement reflects the impact of government-led housing and financing initiatives developed in cooperation with public and private sector stakeholders.

In 2024, more than 122,000 families benefited from housing support, while over 21,000 secured homes through development housing programs. The report detailed over 13,000 contracts for land products linked to the Ministry of Municipalities and Housing, around 16,000 for self-construction, more than 49,000 for ready-built units, and over 27,000 for off-plan sales.

The report, titled 'From Decision to Stability', highlighted the program’s contribution to the national economy, non-oil GDP growth, and Vision 2030 objectives. It also emphasised leadership support in advancing housing stability and expanding access to affordable homes.