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Around 82% of high-net-worth Muslims worldwide are interested in purchasing property in Saudi Arabia, according to a KPMG survey (pdf). Makkah is the top choice, attracting 30% of prospective buyers, followed by Riyadh at 25% and Madinah at 19%. Among those focused on residential properties, 84% favor locations in the holy cities, with 33% budgeting between USD 2.5 mn and USD 10 mn for their purchase.
Meanwhile, 77% of expatriates are interested in owning property in Saudi Arabia, though only 9% are prepared to spend over SAR 3.5 mn — just under the SAR 4 mn minimum required to qualify for a Saudi Green Card. Among prospective buyers, 75% prefer properties in residential communities, with 68% favoring apartments, particularly branded residences with 1-3 bedrooms.
KSA apartment yields beat GCC benchmarks in 3Q: Jeddah topped regional apartment rental yields in 3Q 2024 , with a 2-bedroom (2BR) unit averaging 11.7%. That’s nearly double average apartment yields in Doha, Dubai, and Abu Dhabi, which ranged between 5-6%. Meanwhile, a 3BR unit in Jeddah yielded 9.7% in rental yields and a 4BR 7.4%. In Riyadh, apartment yields were similarly high, ranging between 9.1-11.5%, while Dammam (6.2-6.6%) and Khobar (5.3-7.4%) yields are closer to regional averages.
