Property for sale in Saudi Arabia

1/ Capital: Riyadh

Is the capital of Saudi Arabia and its largest city. It is also the capital of Riyadh Province, and belongs to the historical regions of Nejd and Al-Yamama. Get more information on property for sale in Riyadh.

Is an Arab country and the largest country of the Arabian Peninsula. It is bordered by Jordan on the northwest, Iraq on the north and northeast, Kuwait, Qatar, Bahrain, and the United Arab Emirates on the east, Oman on the southeast, and Yemen on the south.

The Kingdom is sometimes called "The Land of The Two Holy Mosques" in reference to Mecca and Medina, the two holiest places in Islam. In English, it is most commonly referred to as Saudi Arabia often as just Saudi or the Kingdom by many English-speaking expatriates in the kingdom, or, less commonly (as in international football events or in the national press) as KSA or SA.

Saudi Arabia is the world's leading petroleum exporter and petroleum exports fuel the Saudi economy. Oil accounts for more than 90 percent of exports and nearly 75 percent of government revenues, facilitating the creation of a welfare state, which the government has found difficult to fund during periods of low oil prices.

Foreign investment and developing the non-oil sector is a known direction that the Saudi Arabian nation is intent on pursuing.

In April 2000 to encourage a service-oriented economy the Saudi Arabians relaxed visa procedures for tourists, and encouraged direct foreign investment.

The Kingdom of Saudi Arabia is in the midst of a property boom. Riyadh, the capital and Mecca, the most sacred city in Islam, have experienced the highest house price increases.

The huge oil revenues from skyrocketing oil and petroleum prices in the global market contributed to the rise in purchasing power of Saudis. Several Saudis preferred to buy than to rent real properties.

The rise in income of Saudis coupled with the sharp population growth caused a surge in demand for housing units. These triggered hikes in real estate prices over the past years. In the first half of 2008, several analysts estimated that property prices in Riyadh rose 40% - 90% from a year earlier.

Investments from neighboring Gulf States and liberalization of real property laws added to the boom in Saudi’s real estate market.