Two economists confirmed to Okaz that the Saudi real estate market needs more housing units, indicating that the property may be affected by the Corona virus crisis, but they ruled out its exposure to a significant decrease or fall.They expected that foreign investments will go to Saudi Arabia, after the end of the Corona crisis, given that the Kingdom is one of the attractive places for investment.
Economist Abdullah Al-Ahmari said: “Real estate is a market commodity that is affected by all economic and political events, and there will be an impact on the real estate market, but it will not reach the stage of collapse, as the market needs more housing units, so that there is a parity between supply and demand, while scarcity real estate And distinctive commercial will not be affected greatly by the fall of prices, such as residential and administrative, and the real estate market maintains its prices ».
For his part, Eng. Khaled Al Jamjoum stated that it is difficult to determine and know whether the drug will decrease significantly or not with the spread of corona.
He added: “The expectations at the moment are not known to anyone, but I expect Saudi Arabia to come out of the Corona crisis with excellent results compared to the countries of the world, and then the world will see us as a good place to invest for our success in dealing with this epidemic, as we have in the Kingdom very attractive areas for investment, And with a high percentage of safety, it will make investors search for tourist areas to invest, and the Kingdom has many advantages for investment, and I expect the direction of investments to Saudi Arabia after the end of the crisis, which will contribute to the rise in the real estate sector.