Property for Sale in Saudi Arabia

The Saudi Arabian property industry is currently undergoing a revolution. This is perhaps happening due to the incredible Vision 2030 economic plan that the government introduced. Its aim is to open up the market and enhance the quality of living. The Kingdom has a vast range of properties available for sale, from luxurious villas in Riyadh to modern and urban apartments in Jeddah. This diversity in real estate naturally suit and satisfies the investors as well as the locals.

The government has invested heavily in infrastructure development and fostered regulatory reforms in recent years. The population is also very young and increasing. All these factors have accelerated the urbanization process, with demand for commercial and residential property on the rise. Let’s explore property for sale in Saudi Arabia, including current prices and the top cities to invest in.

Why Invest in the Saudi Arabia Real Estate Market

Saudi Arabia presents a very promising investment prospect for the real estate industry through its economic stability, geographical advantages, and favorable government policies. Here’s a closer look to the markets highlights:

• Strong growth: The contribution to GDP by the real estate sector doubled to 12% in 2024
• In Demand developments: Vision 2030 projects like NEOM and The Line will reshape city living.
• Regulatory Reforms: Enactment of the Real Estate Transaction Tax Law and elimination of the tax on property sales have facilitated transactions.
• Infrastructure Development: Huge investments in transportation and utilities are driving property prices up all over the Kingdom.

Property Prices in Saudi Arabia (2024)

Understanding regional price variations is crucial for informed investment decisions. Here’s a closer look:

Although, prices are approximate and subject to change based on market dynamics.

Top Cities for Real Estate Investment in Saudi Arabia

In every country, there are regions with the most potential for real estate investment that are high yielding and most friendly to foreign investors. Here are the best cities for Investing in real estate in Saudi Arabia:

Riyadh

This is the capital of Saudi Arabia so it is naturally the center of politics and economic activity. The capital is also blessed with improved infrastructure, new metro routes, growing population, and the rising property prices in Riyadh is to no one’s surprise. This town is a highly desirable market for residential, commercial, and mixed-use investment property. There is a whole range of demand in the market and the government is supporting new developments. All these lead to great returns on investment for foreign investors.

Jeddah

Jeddah’s geographical location along the Red Sea positions the city as a very significant commercial and trade hub. It is the main pilgrimage port for the city of Mecca and is both economically and culturally vital. The recent mega developments will make Jeddah a world-class city and attract both domestic and foreign investors. Property prices in Jeddah are on the rise, particularly in luxury residential neighborhoods.

NEOM

NEOM is the future of living for Saudi Arabia. The $500 billion mega-project focuses on innovation, sustainability, and technology. NEOM will cover multiple regions and will be home to industries like biotech, renewable clean energy, robotics, and cutting-edge manufacturing. Even in its early stage, property investment in NEOM will reap massive long-term gains as infrastructure grows and the need for intelligent living spaces is increasing.

Dammam & Al Khobar

Located in the Eastern Province, Al Khobar and Dammam are of pivotal significance to the oil-driven Saudi economy and are major commercial and industrial hubs. The cities are also experiencing a growing demand for residential as well as commercial space because of the rising number of professionals as well as expatriate workforce. With the developments of new residential communities, retail hubs, and transportation links, the area is becoming an increasingly diversified investment destination. The property market in the area offers good growth as well as acceptable returns for investors.

Saudi Arabia Foreign Ownership and the Legal System

Saudi Arabia has taken a number of steps to ease foreign investment in real estate. Here are a couple of them:

• Premium Residence Programme: Allows foreigners to buy property without a sponsor.
• Real Estate Transaction Tax Law: Brought in to enhance transparency and lower transaction costs.
• Ejar Rental Platform: Promotes transparency and regulates the rental market.

All in all, the government aim to create a more investor-friendly setting, aligned with international standards.

Procedure for Purchasing a Property in Saudi Arabia

For this step, you need an experienced real estate agent with you. There are complications you might not be ready to deal with. For instance, ownership in Mecca and Medina is restricted and only Premium Residency holders can obtain usufruct rights (long-term leases) for up to 99 years. But if you have a trusted partner with you, here is the general procedure of purchasing a Property in Saudi Arabia:

1. Eligibility: Become a Premium Resident (Iqama) or qualify under investment requirements.
2. Property Searching: Find appropriate properties via authorized agents.
3. Due Diligence: Confirm property details, owner information, and adherence to regulations (existing debts, liens, or legal disputes)
4. Finance: Explore mortgage options; foreign buyers might be able to finance up to 70% (Financing is not guaranteed and depends on residency status, income, and local bank policies.)
5. Transaction: Have the registered notary finalize the sale and remit the required taxes.
6. Pays a Real Estate Transaction Tax (RETT), which is 5% of the property’s value.
7. Registration: Register the property with the Real Estate General Authority.

You can use the Najiz.sa platform for electronic documentation and to streamline the transaction process.

Documents Needed to Buy Property in Saudi Arabia

Buying property in Saudi Arabia calls for a well-documented set of identification and official papers. Whether resident or foreign investor, proper documentation ensures a legally valid and hassle-free process:

• Valid Passport – All buyers’ identification paper.
• Iqama (Residency Permit) – For resident foreigners.
• Proof of Income or Bank Statement – To assess financial capability.
• No Objection Certificate (NOC) – For foreign buyers in the defined regions.
• Title Deed (in the event of reselling) – Proof of property ownership.
• Commercial Registration Certificate – For business entities.
• Foreign businessmen are obliged to procure this Investment Permit from SAGIA.
• Signed Sales Agreement – Contract or agreement between seller and buyer.
• Property Valuation Report – Establishes the market value of the property.
• Tax Clearance Certificate – It ensures no outstanding taxes owing against the property.

Final Words

Today, the Kingdom’s residential property market is no longer a regional prospect in isolation—it is a global investment horizon. The government’s Vision 2030 reforms are not only opening the gates for foreign ownership, but also simplifying the rules, enhancing transparency, and stimulating economic growth in many sectors.

From luxury residences and smart cities to affordable housing and commercial centers, properties for sale in Saudi Arabia has a vast potential. Whether an experienced investor or a portfolio owner, the moment to balance the possibilities of the Kingdom is now. The long-term rental returns, capital appreciation, and government-backed measures make the market particularly alluring.

At Dxboffplan, we specialize in connecting quality real estate deals with global investors across the world. Our professional team stands prepared to help you from list searching to securing the perfect deal.