Average Saudi salary less than price of a square meter of land
The average monthly salary of a Saudi citizen is less than the price of a square meter of land, according to official statistics of the Ministries of Justice and Labor and Social Development. The price of a square meter of land is cSAR5k while the average salary of a Saudi citizen in the private sector is SAR4.967k. A Saudi citizen cannot own a house until his average monthly salary is SAR10k, according to a number of real estate experts, who also doubted the price of a square meter of land for the construction of apartments as estimated by the two ministries, claiming that in many areas it is much less than what is estimated. Abdullah Al-Ahmari, member of the real estate evaluation committee at the Jeddah Chamber of Commerce and Industry (JCCI), said a Saudi citizen would need a monthly salary of SAR15-20k to be able to own a house, and c60% of Saudis are receiving monthly salaries which are less than SAR10k.
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