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Volume :41 Issue : 158 2015      Add To Cart                                                                    Download

Determinants of Demand for Housing in Saudi Arabia : Econometric Analysis .

Auther : Dr. Ahmed A. AL-Mohaimead - Dr. Musaad A. AL-Mosaind

     The housing market in Saudi Arabia experienced high growth rate due to high levels of GDP growth, population growth, and availability of alternative ways of funding. However, at present the housing sector suffers from many issues and challenges, including the adequacy of the supply of housing units, adequacy of ownership of citizens housing, high levels of prices and renting housing units, and stricter requirements for the financing of land and housing. Hence, this study aims to identify the causes influencing the demand for housing in SA. Assess the impact of income and price level in selection process. Assist Housing Authority in adopting policies to address the problem. To achieve this, the study applies multiple approaches such as theoretical and analytical statistical methods on factors affecting demand for housing in the Kingdom of Saudi Arabia.
     The study showed the important role of economic factors in determining the size of the future demand for housing, the results showed the existence of a long-term relationship among the variables under study. In the short term, the results showed poor correlation between income levels and housing demand, and there was no obvious effect of prices on the demand for housing, as it became clear that the demand for housing among the essential needs of the general population. The study concluded the importance of adopting policies and mechanisms to support the housing sector and the development of urban systems and economic legislation, especially in major cities in the Kingdom. The study also recommended encouraging private sector participation in the financing and development of affordable housing projects.

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May 18, 2017

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