Expats living in Saudi Arabia used to buy only in rented houses as per the policies Expats were not eligible to Buy any property or Land in the kingdom. Now, the Expats who are legally residing in the Kingdom can buy & own one property, according to a report by Saudi Gazette.
The property can be any land or building located in a residential area. In respect of land, the land area shall not exceed a maximum of (3,000 sqr mtrs).
Expats can Buy a Property in Saudi Arabia (KSA)
The right for owning a property for the purpose of housing must be only for the owner or his family, with no right to use the property for another purpose unless permitted by the law of the state where the property is located.
Real Estate will now boom in Saudi Arabia
Absher platform has identified five requirements that expats must meet in order to buy a property in the Kingdom of Saudi Arabia (KSA)
Absher is a smartphone application which allows citizens and residents of Saudi Arabia to use a variety of government services provided by the Saudi Arabia government.
The platform, with the support of the infographics has explained that the service allows residents to apply for a permit to own a property inside Saudi Arabia (KSA), with the following five conditions:
- Expat must have a Valid Iqama (residence ID)
- Expat must provide all accurate information related to the property with a copy of the title deed
- He or she shall not have any other property in the Saudi Arabia on his name
- Properties in Makkah & Madina cannot be bought
- Property bought by Expat can only be used for residential purposes
Absher explained that the service can be benefited from by entering “my services” (Khidmaty) on the Absher platform, then entering “services” (Khidmat), then “public services” (Al-Khidmatul Aamma), and from there to “request for obtaining real estate ownership.