Real estats for expats

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oraclefusionsGuest01 February 2011 03:29:34

214245

I know for a fact that there are certain developments in Riyadh that do offer to sell property to expats (dar ul arkan), however it is not very common to just go about and buy any property anywhere one wishes to due to lack of real estate laws to safeguard expat rights and one needs to get special permission from Governor house.

Therefore I read the following news and wonder about its practical implications. Is it going to be similar to Dubai real estate ownership by expats? time will tell. It may shoot up real estate prices as well.

http://arabnews.com/saudiarabia/article246950.ece

Vicks Active member

Member since 19 January 2011

VicksActive member01 February 2011 04:02:08

won't it also lower the home rental prices due to lesser demand (current tenants opting to buy a new house instead of paying high rents year over year) ?

oraclefusions Guest

oraclefusionsGuest01 February 2011 07:09:01

214245

I was talking about real estate sales.

dynamo1131 Serial expat

Member since 18 January 2011

dynamo1131Serial expat01 February 2011 07:12:17

289

But if you decide to buy an estate here, will there be a problem if your visa got cancelled, because of work...then what happens to your investment? Unless the government gives immigrant options expats will think twice to invest, like me....cheers...

oraclefusions Guest

oraclefusionsGuest01 February 2011 07:17:57

214245

That is my point , as I mentioned earlier, we will have to wait and see.
By the way, even Dubai back tracked from their promise of resident visa linked to a real estate investment.

I researched a lot on dubai, any one needs any info, pm me
cheers

dynamo1131 Serial expat

Member since 18 January 2011

dynamo1131Serial expat01 February 2011 07:25:04

289

oraclefusions wrote:
That is my point , as I mentioned earlier, we will have to wait and see.
By the way, even Dubai back tracked from their promise of resident visa linked to a real estate investment.

I researched a lot on dubai, any one needs any info, pm me
cheers

I agree with you mate, I lived in dubai for several years also. Rich GCC countries just want to keep their wealth and oil for themselves, they don't want expats having the same benefits as their locals.....otherwise they have to work as other individuals do....lol cheers

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