Frequently Asked Questions
Can foreigners buy property in Saudi Arabia?
Yes, recent laws allow foreigners to own real estate in most parts of the Kingdom, excluding Mecca and Medina.
What is the Premium Residency (Golden Visa)?
It is a residency program that grants expats permanent residency or renewable residency without a sponsor, often obtained through real estate investment.
Are there taxes on buying property?
There is a 5% Real Estate Transaction Tax (RETT) on the property value. There is no VAT on residential property sales.
Is it safe to invest in off-plan properties?
Yes, the 'Wafi' program regulates off-plan sales to protect buyers' rights and ensure project completion.