Saudi Household Homeownership Rate Rises to 65.4%... Vision 2030 Approaches Its Goal
The homeownership rate among Saudi households has achieved remarkable progress, reaching 65.4% by the end of 2024. This surpasses the interim target of 64% within the objectives of Saudi Vision 2030, which aims to achieve a 70% homeownership rate in the coming years.
This growth reflects intensive efforts in the housing sector, including financing facilities, the development of sustainable urban environments, and the provision of diverse housing products. According to the annual report for Vision 2030, the number of families owning their homes has increased to over 850,000, compared to 748,000 in 2023, representing an annual growth rate of 13.37%.
What is the Homeownership Rate in Saudi Arabia?
The homeownership rate in Saudi Arabia reached 65.4% in 2024, which is considered one of the highest rates in the region. This demonstrates the effectiveness of government strategies aimed at enabling citizens to own their homes easily.
The company aims to develop 600,000 housing units by 2030 to ensure coverage of the needs of all segments of society and expand the base of residential ownership
How many homes are in the Kingdom of Saudi Arabia?
The Kingdom plans to gradually increase the number of targeted homes in Saudi Arabia to more than 1.5 million new units by 2030 through ambitious urban development programs distributed across the Kingdom's main regions.
Roshn is considered one of the largest real estate developers owned by the Public Investment Fund. It aims to construct 400,000 housing units over an area exceeding 200 million m² by 2030, which will significantly boost the homeownership rate among Saudi households.
Target Homeownership Rate for Saudi Households in Vision 2030
In response to inquiries about the target homeownership rate for Saudi households, the answer is 70% by 2030. This goal is supported by massive projects and real estate financing that exceeded 835 billion Riyals by the end of 2024, compared to 420 billion in 2020.
