Rents are too high.
Reason for high rent
1) Non commercial middle men and sub lessors
2) Real estate commissions
3) Expats inbound from displacement in Saudi
Our rents are padding the pockets of middlemen
Solution
1) Direct rental billing via government website which also collects licensing fee from registered real estates and 1% property tax
2)General rental suggested price per sqm should be introduced. Lessors should be limitedby upper-limits for what they can charge for residential property.
government
Rents are too high.
Reason for high rent
1) Non commercial middle men and sub lessors
2) Real estate commissions
3) Expats inbound from displacement in Saudi
Our rents are padding the pockets of middlemen
Solution
1) Direct rental billing via government website which also collects licensing fee from registered real estates and 1% property tax
2)General rental suggested price per sqm should be introduced. Lessors should be limitedby upper-limits for what they can charge for residential property.
government