Noida, India (PressExposure) September 23, 2009 -- According to a new report âSaudi Arabia Housing Sector Outlookâ by RNCOS, the Saudi Arabia housing industry is witnessing demand supply mismatch due to massive shortage of housing units in the country. Increasing employment rate and decreasing household size have been fueling demand for housing units in the Kingdom. It is expected that the total housing demand in the Kingdom will reach more than 1 Million units by 2015 besides the existing shortage of more than 1.5 Million.
Despite the 2008 financial crisis, the housing industry in Saudi Arabia saw tremendous growth opportunities and would emerge as the fastest growing housing industries in the Middle East region. Strong regulatory environment, intact demand level and market adjusted approach by developers and consumers will protect the housing industry from aftereffects of the economic crisis.
The next five years could be a boon for the construction industry in Saudi Arabia. The oil-rich country is presently experiencing huge demand for new homes owing to the population growth and new mortgage laws that could lead the demand level to new horizon.
We expect that the housing construction industry will post tremendous growth in coming few years on the back of expanding young population base, increasing demand for housing units, rapid transformation in housing industry landscape, Moreover the housing construction industry will emerge as a key contributor to GDP growth in the next few years.
âSaudi Arabia Housing Sector Outlookâ contains an extensive research and objective analysis of rapidly growing housing industry in Saudi Arabia, along with its components and supporting financing structure. The report helps clients to understand factors critical for the success of housing industry as well as their growth prospects in this highly lucrative market. Detailed data and meticulous statistical information facilitates investors, financial service providers and global banking players navigate through the latest trends in the Saudi Arabia housing industry.
The report also provides segment-wise analysis, forecast, latest market trends and emerging areas in the future. The extent of the information covered in the report assists in understanding the market dynamics and corresponding factors responsible for transformation of the industry.
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