Big worry for Indians as Saudi Arabia changes house and shop rental rules, Indians will have to now…
The General Real Estate Authority said the cabinet and royal directives are designed to curb rising housing and commercial rental prices in the capital and bring more balance, transparency and fairness to the market.
In a historic move, Crown Prince Mohammed bin Salman has implemented new property rental regulations in the Saudi Arabian capital, imposing a five-year freeze on rents for both residential and commercial properties in Riyadh. The Crown Prince’s decision aims to stabilize rental prices and ensure a fair and transparent property market in the capital.
This decision will directly impact expatriates who have come to Saudi Arabia for work or employment, who live on rented land or run their businesses on rented land. India(BHARAT)ns constitute a significant number of these individuals.
What did the Saudi government say?
The General Real Estate Authority said the cabinet and royal directives are designed to curb rising housing and commercial rental prices in the capital and bring more balance, transparency, and fairness to the market. The law includes rent control, as well as renewal and property registration.
Will India(BHARAT)ns benefit?
India(BHARAT) and Saudi Arabia have a historic relationship. Trade between the two countries is growing year after year. Thousands of people from India(BHARAT) travel to Saudi Arabia every year for employment and business.
More than 2.5 million India(BHARAT)ns live in Saudi Arabia, most of whom rent their homes, and those who work here also run their businesses in rented buildings. Therefore, this decision by the Saudi Arabian government will directly benefit India(BHARAT)ns.
This new law will come into effect on September 25, 2025. After this, landlords in Riyadh will not be able to increase existing rents for five years. For vacant properties, the new rent must be equal to the last recorded lease price. Rents for properties being leased for the first time will be determined by agreement between the landlord and tenant.
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