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Saudis spendSR81bn inhousing lease
(MENAFN- Arab News) Saudis spent around SR81 billion on housing leases during 2014 or SR6.75 billion a month according to an analysis of the Economic Reports Unit in Aleqtesadiah newspaper. The total number of spending on leasing renovating and maintaining houses reached SR93 billion.
According to the report the average spending of Saudi families on leasing amounted to 12.5 percent of a family's monthly income in 2014 while leasing renovating and maintaining houses reached 14.4 percent of the family's income.
The analysis showed that each member of a Saudi family employed or otherwise spends SR333 on leases a month or SR 4000 a year. The analysis was based on a survey of Saudi families' spending and income issued by the Department of Statistics and Information for the years 2006-2012. Inflation on leases which increased by 7 percent since the end of 2012 to November 2014 was taken into account while compiling the figures.
According to the department the average income of Saudi families reached SR16580 a month according to the 2012 survey while spending reached SR17000. The average family had 6.7 members. The department further noted that the Saudi population was 20.27 million by the end of 2013.
According to the report the average spending of Saudi families on leasing amounted to 12.5 percent of a family's monthly income in 2014 while leasing renovating and maintaining houses reached 14.4 percent of the family's income.
The analysis showed that each member of a Saudi family employed or otherwise spends SR333 on leases a month or SR 4000 a year. The analysis was based on a survey of Saudi families' spending and income issued by the Department of Statistics and Information for the years 2006-2012. Inflation on leases which increased by 7 percent since the end of 2012 to November 2014 was taken into account while compiling the figures.
According to the department the average income of Saudi families reached SR16580 a month according to the 2012 survey while spending reached SR17000. The average family had 6.7 members. The department further noted that the Saudi population was 20.27 million by the end of 2013.
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