Non-Saudi Nationals Will Soon Be Able to Buy Property in KSA
A new law is under review that will grant foreigners the right to buy property in the kingdom.
Mar 29, 2023
The Real Estate General Authority (REGA) is in the process of generating a new law that allows for foreigners to buy property in the Kingdom of Saudi Arabia. The law currently forbids the ownership of non-Saudi nationals to own property across the country including Mecca and Medina.
REGA stated that, to avoid any negative outcomes of foreign ownership, solutions for any issues that may arise have been developed and monitored.
Demand for real estate in Saudi has dropped in recent years from 84% in 2022 to 40% this year due to a high increase of property prices, including an escalation of 45% of villa prices.
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