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May 5, 2015
Saudi Arabia: Mortgages enter housing market
The landscape of Saudi Arabia’s real estate market is set to change with the ushering in of a slew of mortgage laws. However, things were challenging before the law, and the following data tells us exactly why. Suppose, you are 20-something and draw SAR 6500-7700 a month. In that case, for two reasons, you will not be able to afford a decent home. One, the down payment for the house is approximately 14 months of your salary. If you...