Expectations of low oil price impacts on housing development in Saudi Arabia 2016

Published by Statista Research Department, Jun 21, 2016

This statistic describes the expectations of real estate professionals on the impact of the low oil price on the housing development in Saudi Arabia as of January 2016. A 20 percent share of respondents expected that the low oil price will stabilize the housing development in the near future in Saudi Arabia.

Expectations of real estate professionals on the impact of the low oil price on the housing development in Saudi Arabia as of January 2016*

Characteristic	Share of respondents
-	-
-	-
-	-

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Release date

June 2016

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Region

Saudi Arabia

Survey time period

January 2016

Supplementary notes

* Original question: "What in your opinion will be the expected impact of low foreseeable oil prices on housing developments?"

This survey was conducted to understand the reaction and sentiments of professionals in the real estate industry in Saudi Arabia regarding the newly introduced 'White Land Tax" law, as part of the governments 2030 agenda. The law is meant to tax unused land and plots in the urban areas of Saudi Arabia at a 2.5 % rate of their value, to encourage the development of more residential units to combat the housing shortage.

The report does not include the details of the survey.

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