Al-Marsad newspaper: Academic Abdullah Al-Qahtani commented on what is being circulated regarding real estate and where it is heading, especially with the increase in the interest rate on loans!!?
Al-Qahtani said in a statement to “Al-Marsad”: “Many analysts talked regarding their expectations of a correction of the property and a drop in prices… But from my point of view, talking regarding the correction of the property and the drop in its prices is premature for reasons, which I will talk regarding.
He continued, “It is known that the desire to own real estate and the need for it is still strong, and that banks are still providing loan facilities, and that interest rates for borrowers have risen…
Therefore, it is expected that real estate prices will remain the same, and only the pace of buying and selling (executed deals) will decrease due to the high interest on loans, unless legislation and laws are issued by the state, God preserved, to limit the rise in prices, whether by imposing fees that include white lands and other real estate or completion The white land fee program in all its stages.
