Apartments for Sale in Riyadh: Modern Living in Saudi Arabia’s Capital
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Riyadh, the capital city of Saudi Arabia, is a bustling modern city, yet it has still kept its traditions. The state is expanding its real estate business because of the flood of expatriates and investors who invest in Vision 2030, which strengthens the economy and infrastructure. There are convenient and luxurious apartments in Al Rajhi and Al Malqa that are available for families, professionals and investors.
The Prestigious Properties listed on Dxboffplan lead you to the best apartments located at the best neighborhoods such as Al Nakheel, King Abdullah Financial District (KAFD) and Al Qasr that promise you returns with modern and fancy lifestyles.
Prices of Riyadh Apartments for Sale
Prices of apartments for sale in Riyadh are determined by the location, size and facilities. The average cost of apartments per square meter provided by the General Real Estate Authority is SAR 4,500 (USD 1,200). The cheapest 2-bedroom apartment, located in districts like Al Aziziyah, costs about SAR 400,000, whereas the mid-range 3-bedroom apartments in Al Nakheel cost between 800,000 and 1.5 million Saudi Riyals.
The entry-level price of a luxury apartment in prime areas such as KAFD or Al Rajhi, like the luxury apartment in Burj Al Anoud, is SAR 2 million, with the most luxurious penthouse reaching above SAR 5 million in a unit area of 200-300 sq. m.
The off-plan apartments, such as the apartments in Al Rimal or the great apartments at ROSHN Sedra, can cost as low as SAR 600,000 and paying in instalments will require a down payment of 10 to 20 percent of the cost.
The 115% price increase in the market in 2024 indicates that the demand is high, especially in the inner locations. The investment has 6-8% rental yields, where North Riyadh will yield the highest yield because of the upscale infrastructure.
Documents That You Need to Purchase Apartments for Sale in KSA
Owning an apartment in Riyadh will involve certain documentation in order to abide by the standards of Saudi Arabia and mainly those applicable to people of expatriate origin. This is simplified by the Sakani platform and the Real Estate General Authority. Such necessary documents are as follows:
- Copy of passport: Identification document of all buyers.
- Residency Visa (Iqama): It is mandatory among non-Saudis and requires the confirmation of the Ministry of Housing.
- No Objection Certificate (NOC): This is a document issued by the developer stating that there are no pending dues.
- Sale and Purchase Agreement (SPA): It is a legal document that mentions the terms of the transaction and is prepared by a licensed agent.
- Proofs of Funds: Bank statements or other financial documents as proof that buyers are eligible to pay for their property.
- Title Deed Application: This is done through Sakani to register the ownership with a real estate transaction of 2.5 percent.
This is The Best Time to Purchase Your Apartment in Riyadh
At Dxboffplan, we have connected customers with high-quality apartments located in the best regions of Riyadh, like the ones found in Al Olaya, Al Rimal and KAFD. We provide authenticated listings, on-the-spot pricing and exclusive off-plan offers with developers such as ROSHN and Dar Al Arkan.
We offer everything, whether it is a cozy 1-bedroom apartment or a penthouse. We have the most qualified team who can assist throughout the process, including the selection of the property to the Sakani registration process, to make the process of buying top properties in Saudi Arabia hassle-free.
The neighborhoods of Riyadh provide an excellent lifestyle; the high-rises of Al Olaya are the ideal place for professionals, whereas Al Nakheel has gated and cooperative living that matches families. Development (such as Sedra) is based on modern apartments with greenery, which corresponds to the objectives of the Vision 2030 initiative regarding sustainability.
The real estate market is expected to become new and Riyadh is expected to guarantee stability and produce high returns, mainly in the central and northern districts.
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frequently asked questions
The apartments in Riyadh are usually well equipped with gyms, pools, 24-hour security, Smart Home systems and parking spaces, specifically in high-rise towers such as Burj Al Anoud.
Yes, off-plan apartments are cheaper, have a flexible payment plan and huge rental income (6-8%). They also have good appreciation prospects, such as KAFD.
It takes 1-3 months for Saudis and a maximum of a year for expatriates to go through the process, subject to the Giving Consent Ordinance by the Ministry of Housing.