Real Estate in Riyadh, Saudi Arabia
Last updated on Feb 22, 2023
Summary: The most desirable neighborhoods in Riyadh, Saudi Arabia are Al-Malaz, Al-Naseem, Al-Faisaliah, Al-Olaya, and Al-Mursalat. The average cost to buy a nice 2 bedroom home in Riyadh is around $400,000 USD, while a nice 3 bedroom home can cost around $500,000 USD. These properties typically include modern amenities such as air conditioning, central heating, and high-speed internet. Foreigners are allowed to own property in Riyadh, but there are certain restrictions. For example, foreigners are not allowed to own land, and they must obtain permission from the Ministry of Interior before purchasing a property. When searching for a home to buy in Riyadh, expats should consider their budget, desired location, and the type of amenities they are looking for. It is also important to research the local real estate market and consult with a real estate agent to ensure that the property is in good condition and that the price is fair.
How do I find a place to live in Riyadh?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"We found a larger private villa after being in a small compound. It cost the same and now we have our own pool without the harrassment of kids. (Parents allow them to run wild here, with or without supervision to all hours of the night.)," remarked one foreigner who made the move to Riyadh.
"Riyadh is a great place to live, with plenty of options for housing. One of the best ways to find a place to live in Riyadh is to use online resources such as websites like Expat.com, which offer listings of available apartments and houses for rent. Additionally, you can also search for housing on classifieds websites such as OLX and Craigslist. Additionally, you can also contact local real estate agents who can help you find a suitable place to live in Riyadh. Finally, you can also ask friends and family who live in Riyadh for recommendations on where to look for housing," explained one person living in Riyadh, Saudi Arabia.
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What is a typical expat home or apartment like in Riyadh?
"Expat homes and apartments in Riyadh tend to be modern and luxurious, with many featuring high-end amenities such as swimming pools, gyms, and saunas. Expats can also expect to find spacious living areas, large bedrooms, and modern kitchens. Many expat homes and apartments also come with balconies or terraces, offering stunning views of the city. Security is also a priority in Riyadh, with many expat homes and apartments featuring 24-hour security guards and CCTV surveillance," remarked one member in Riyadh.
"I live in a three bedroom villa. yes for my company it is as they provide their own accomodation," explained one expat living in Riyadh, Saudi Arabia.
"We live in a large 5 bedroom private villa with drivers quarters. This is not typical for expatriates. Though a pool and stuff is essential for any expatriate family. But in this area (Al Maseef) it is the norm," said one person in Riyadh.
SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
Click connect to have our partner contact you via e-mail and/or phone.
SJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
Click connect to have our partner contact you via e-mail and/or phone.
What is the average cost of housing in Riyadh?
If you are thinking about moving to Riyadh, cost of living in probably a key consideration. Expats commented about the cost of housing:
"By comparison for the size of the house it is much cheaper here. Though for normal housing the price is virtually the same. (keep in mind you should ALWAYS have housing included in your package, this way you can upgrade if you don't like it with little out of pocket expense.)," remarked one member in Riyadh.
"The cost of housing in Riyadh varies depending on the area and type of accommodation. Generally, the average cost of renting an apartment in Riyadh is quite high, with prices ranging from around SAR 5,000 to SAR 15,000 per month. Buying a property in Riyadh is also expensive, with prices ranging from around SAR 1,000,000 to SAR 10,000,000," explained one expat living in Riyadh, Saudi Arabia.
Should I buy or rent a home in Riyadh?
If you have not spent a lot of time in Riyadh, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"When deciding whether to buy or rent a home in Riyadh, it is important to consider the cost of living, the availability of housing, and the lifestyle you wish to lead. Buying a home in Riyadh can be a great investment, as the city is growing rapidly and property values are increasing. However, it is important to consider the cost of purchasing a home, as well as the cost of maintenance and upkeep. Renting a home in Riyadh can be a more affordable option, as it allows you to live in the city without the long-term commitment of buying a home. Additionally, renting can provide more flexibility, as you can move to a different area of the city if your needs change. Ultimately, the decision to buy or rent a home in Riyadh should be based on your individual needs and preferences," said one expat who made the move to Riyadh.
What do I need to know when buying property in Riyadh?
When we asked expats what advice they would give a foreigner before buying a property in Riyadh, they said:
"1. It is important to research the local laws and regulations regarding property ownership in Riyadh before making any purchase. 2. It is also important to understand the taxation system in Saudi Arabia and the implications of buying property in Riyadh. 3. It is advisable to seek professional advice from a lawyer or real estate agent who is familiar with the local market and laws. 4. It is important to ensure that the property is registered with the local authorities and that all necessary paperwork is in order. 5. It is also important to be aware of any restrictions on foreign ownership of property in Riyadh. 6. It is advisable to inspect the property thoroughly before making any purchase. 7. It is important to be aware of any potential risks associated with buying property in Riyadh, such as political instability or natural disasters. 8. It is also important to consider the cost of living in Riyadh and the availability of amenities such as schools, hospitals, and transportation," explained one expat in Riyadh.
Are foreigners allowed to own property in Riyadh?
When we asked expats what advice they would give a foreigner before buying a property in Riyadh, they said...
"Foreigners are allowed to own property in Riyadh, but there are certain restrictions and conditions they must meet. In 2000, the Saudi government passed a law allowing non-Saudi nationals to own real estate for residential purposes, but they must first obtain a license from the Ministry of Interior. The property must be used for personal residence and cannot be used for commercial purposes. Additionally, the property's size and location must be in line with the needs of the foreign owner and their family. Foreign companies are also allowed to own property in Saudi Arabia if it is for their business operations or for housing their employees. However, foreigners are not allowed to own property in the holy cities of Mecca and Medina," explained one person living in Riyadh, Saudi Arabia.
What appliances are typically included in a rental?
We asked foreigners in Riyadh what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"In Riyadh, rental properties typically include a refrigerator, stove, oven, washing machine, and air conditioning unit. Additionally, some properties may also include a dishwasher, microwave, and water heater," explained one person living in Riyadh, Saudi Arabia.
Additional Information about Searching for a Home in Riyadh:
We asked foreigners in Riyadh what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats searching for homes in Riyadh typically begin by researching the local housing market and familiarizing themselves with the different neighborhoods and types of accommodations available. They may consult online real estate portals, such as Property Finder, Bayut, and eSimsar, to browse listings and compare prices. Additionally, expats often seek advice from colleagues, friends, or online expat forums to gather recommendations and insights on the best areas to live in, based on their preferences and budget. Social media groups dedicated to expats living in Riyadh can also be a valuable resource for finding housing leads and connecting with others who have gone through the same process. Hiring a local real estate agent can be helpful, as they have extensive knowledge of the market and can assist in finding suitable properties, negotiating rental agreements, and navigating the legal requirements for renting in Saudi Arabia. Expats should ensure that the agent is reputable and registered with the Saudi Real Estate Commission. Visiting properties in person is essential to get a feel for the neighborhood and the condition of the home. Expats should consider factors such as proximity to their workplace, schools, healthcare facilities, and amenities like shopping centers and restaurants when choosing a location. Finally, it is crucial for expats to familiarize themselves with the rental laws and regulations in Saudi Arabia, including understanding their rights and responsibilities as tenants. This may involve seeking legal advice or consulting with their employer's human resources department for guidance on housing contracts and procedures," remarked one foreigner who made the move to Riyadh.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
Additional Information:
- Expat Guide to Riyadh
- Healthcare & Health Insurance in Riyadh
- Cost of Living in Riyadh
- 5 Tips for Living in Riyadh, Saudi Arabia
- Healthcare & Health Insurance in Saudi Arabia
- Best Places to Live in Saudi Arabia
- Pros & Cons of Living in Saudi Arabia
- How to Get a Driver's License in Saudi Arabia
- What It's Like Living in Riyadh
- Pros and Cons of Living in Saudi Arabia 2024
- 2024 Guide to Moving to Saudi Arabia