Al-Marsad newspaper: Abdul Hamid Al-Omari, a member of the Saudi Economic Society, revealed the reason for the rise in real estate prices.
He said during his intervention with the “Yahla” program broadcast on “Rotana Khaleejia” channel: “The rise in real estate prices in the residential sector is due to the flexibility and ease of pumping real estate loans.”
He continued, “Today, we have reached a phase of seasonal stagnation and prices are almost stable, and there have been no significant increases, and no decrease, as happened with the decline in loans.”
He added, there is an upcoming drop in prices due to the lack of lending levels, expecting the decline to occur following 12 months have passed, or the beginning of the next Ramadan, or next summer.