The Saudi real estate sector is expected to continue its recovery with a moderate chance of acceleration in 2023, according to Markaz report.
Regarding the preliminary budget, the report said that Saudi has increased spending with expectations of a surplus. Last year, the country had reported a budget surplus of $40 billion in the first nine months.
The report also noted that between January to September of last year the value of real estate transactions in Saudi Arabia had surged marking an increase of 12.2% y/y.Â
The report also showed that the Saudi Arabian real estate market has been broadly positive, thanks to favourable economic conditions and government initiatives. However, rising interest and sober global economic outlook poses some headwinds.Â
Issued by the the Kuwait Financial Centre, the report ‘Real Estate H1 2023 Outlook’ reports for Saudi Arabia as well as Kuwait, and the UAE.
