Abdullah Al-Hammad, CEO of the Real Estate General Authority, announced that the proportion of household income allocated to rent in Riyadh has dropped to approximately 15 percent. This figure represents a decline from the 17.5 percent recorded in September 2025. During the Legal Aspects of Governance Conference held at King Saud University, Al-Hammad attributed this shift to strategic government interventions designed to stabilize the local property market. Previously, lower-income families faced significant financial strain, with some dedicating over 30 percent of their earnings to housing costs. These regulatory efforts, which include a five-year moratorium on rent hikes for current contracts, are part of a broader initiative directed by Crown Prince Mohammed bin Salman to monitor real estate indicators and ensure market sustainability through consistent reporting and oversight.
Source : Saudi Gazette
Photo : Saudi Gazette
