Investors, home buyers view real estate as safe heaven

The 7th edition of the Jeddah Urban Development & Real Estate Investment Event, powered by Cityscape, to takes place at the Jeddah Centre for Forums and Events from Nov. 2 to 4.
Recent findings by Internet-based market research firm YouGov, reveal that real estate is the most appealing investment category for 53 percent of respondents who consider Saudi Arabia as one of the most attractive markets for investment in the Middle East.
The latest research from the Middle East Real Estate Barometer report, reflects the market sentiment of 684 investors and home buyers from the GCC and Egypt who consider Saudi Arabia among the top three countries for investment in the Middle East, 78 percent of whom also plan to purchase a residential, commercial or retail property in the next 12 months.
The study also found that nearly half (47 percent) of respondents are considering an aggressive investment strategy in the coming year. 
Despite uncertainties and the oil price decline over the last two years, the YouGov report paints an encouraging picture of the sentiment of investors and home buyers who are enthusiastic to invest in real estate across the Kingdom.
The analysis shows that nearly two-fifths (39 percent) of Saudi Arabia’s residents expect growth in the Kingdom’s real estate market in the coming year.
The positivity can be attributed to comprehensive government reforms, introduced earlier this year, when the Kingdom added a barrage of proposals under Saudi Vision 2030, aimed at overhauling the economy in an effort to wean itself off oil.
The vision aims to transform the Saudi economy into a powerhouse led by the private sector, which the real estate industry forms an integral part of.
The YouGov findings come ahead of the 7th edition of the Jeddah Urban Development & Real Estate Investment Event, powered by Cityscape, which takes place at the Jeddah Centre for Forums and Events, owned by the Jeddah Chamber of Commerce and Industry, from Nov. 2 to 4.

Source: Arab News