Housing Program Annual Report 2024: Homeownership Rate Rises to 65.4%, Surpassing the 2025 Target

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The Housing Program – one of Vision 2030 Programs– issued its Annual Report for 2024 under the title “From Decision to Stability”, showcasing the most prominent performance indicators and strategic achievements that contributed to supporting the macroeconomy and increasing the non-oil GDP, in addition to the milestones achieved in line with the objectives of Vision 2030. This comes under the attention and support of the wise leadership, reflecting its keenness to enhance housing stability for citizens.

The report highlighted that the homeownership rate among Saudi families reached 65.4% by the end of 2024, surpassing the 2025 target of 65%, which reflects the effectiveness of the housing and financing initiatives and enablers provided by the program in cooperation with partners. It also revealed that more than 122,000 families benefited from housing support during the year, and more than 21,000 eligible families were able to own their homes through the developmental housing pathways.

The report further indicated that 2024 witnessed the signing of more than 13,000 land product contracts from the Ministry of Municipalities and Housing, around 16,000 self-construction contracts, more than 49,000 contracts for ready units, in addition to more than 27,000 contracts for off-plan sales.

The report emphasized that the Housing Program’s strategy took into account the accelerated pace of homeownership despite global economic fluctuations and succeeded in launching initiatives and development projects that provided diverse housing opportunities, attracted private sector partners, and contributed to creating employment and investment opportunities. The full report is available at:

https://www.vision2030.gov.sa/media/fehl0hxh/housing_program_annual_report_2024_ar.pdf

 The Housing Program aims to enable Saudi families to own suitable homes with ease through a package of housing and financing products, offering options that meet the needs of various segments across all regions of the Kingdom, in line with the objectives of Vision 2030 to raise the homeownership rate to 70%.

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