The Saudi Report 2023
Knight Frank’s annual 2023 Saudi Arabia real estate market surveys were conducted in partnership with YouGov. The three surveys were designed to elicit a deeper understanding of preferences and aspirations for residential properties, as well as gauge attitudes towards other real estate sectors, including hospitality, retail, healthcare, and education.
16 March 2023
Our surveys go beyond the raw data as we seek to understand the motives behind responses, as well as differentiate between aspirations and reality, in addition to painting a picture of what the results may mean for the Kingdom’s real estate markets. Sentiment is often a better indicator of future capital allocation than just deals; hence our three surveys rely equally on qualitative as well as quantitative data points.
Survey 1: 1,014 Saudi national households from the cities of Riyadh, Jeddah, and Dammam were surveyed to identify their desired residential properties and living preferences, including a specific focus on the planned Giga projects.
Survey 2: 498 Saudi national households from the cities of Riyadh, Jeddah and Dammam were surveyed to gather their attitudes on various real estate sectors, including hospitality, retail, healthcare, and education, to understand their preferences and spending habits.
Survey 3: 107 GCC-based High Net Worth Individuals (HNWI), each with a net worth of over US$ 500,000 (excluding their primary residence), were surveyed to measure their appetite to invest in real estate in the Kingdom.
