_Mind the (generational) gap
WHAT OUR EXPERT SAYS
“Our surveys highlight a clear opportunity to develop townhouses, a property type that offers the same spatial affordances of a villa, on a more millennial-friendly budget. Townhouses are a relatively new product for the Kingdom that have a proven track record in other GCC countries. Currently, there aren’t as many townhouses under development - but those that are well-designed have seen an above-average absorption rate when compared to other property types. Apartments are also becoming a more popular choice with millennials, specifically those with added services. Many of these properties lie within a walking distance of cafes and retail centers, with access to amenities such as gyms and 24-hour security services, providing residents a lifestyle unattainable to those living in villas.” Harmen de Jong, Partner – Real Estate Strategy and Consulting, Knight Frank Middle East
Discover the full Saudi Arabia Residential Survey 2022