The Saudi Central Department of Statistics and Information (CDSI) stated that 65 percent of Saudis do not own their own houses, reported Saudi Gazette.
According to CDSI, a major contributor to this issue is the gap between land prices and the average income of Saudis. CDSI noted that seventy percent of government officials are paid salaried below SR8,000.
In addition, CDSI noted that the increasing population is adding to the issue, with current population standing at over 28 million.
It is worth mentioning that the Saudi Real Estate Development Fund is currently looking into 2,400,000 housing loan applications to be approved.
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