Riyadh, Saudi Arabia Competition remains stiff for budget friendly rental properties Property Trends Sirva Tips Very high demand for budget friendly properties, Majority of the properties in Riyadh are Rental commissions are not always applicable Keep an open mind and be ready to compromise if budget but supply continues to be limited. 2-bedrooms and larger. Smaller sized and may vary based on property type, is tight. The limited supply of available housing caused strong properties are very limited. location, negotiations between relevant Bear in mind that there will be strictly no refund of parties and the real estate agent. Therefore, competition among potential tenants, which led to deposit in the event of an early termination. Good to Know con昀椀rm with the agent handling the higher prices for certain compounds and locations. transaction as they may have their own Serviced apartments could be an alternative to The deposit, 昀椀rst rental instalment and There is a rise in property scams where properties are policies and fee structures. compounds for short-term assignments. contract registration fee must already be advertised at very low prices to lure unsuspecting Typical length of tenancy is 1 year, and prepared at the time of the home search to Check to ensure that you have all necessary documents expatriates, in particular foreigners who do not speak no early terminations accepted. speed up the process and successfully secure on hand such as the residency card or permit, otherwise the local language. the assignee’s choice property. Popular Locations known as the Iqama, original copies of your passport and Language and cultural barriers continue to pervade Landlords are not open to negotiations, and visa, and marriage certi昀椀cates (if applicable). the expatriate community, and many 昀椀nd it Smart residential and gated neighbourhood: most are unwilling to go far below the asking Highly advise Western assignees to have a good challenging to navigate the entire property rental price. understanding of the cultural nuances in the Kingdom of process. Shams Ar Riyadh in Al Dareiyah province Saudi Arabia (KSA) prior to arriving in the city. Vision 2030 set the motion for rapid development Luxurious high-end location: Assignees should only start looking for properties when within the country and raised initiatives for increased Parisiana Riyadh they are ready to rent as apartments are mostly for housing but supply still falls short of demand for immediate occupancy. rental properties.