Saudi housing woes stir unrest | The National

Saudi housing woes stir unrest | The National:

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It has been more than 18 months since Saudi Arabia passed its long-awaited mortgage law, its most concrete move for a decade towards ending a housing crisis that has prevented a generation of young Saudis from owning a home.

But despite the new legislation and King Abdullah’s announcement that the Saudi government would spend 250 billion Saudi riyals (Dh244.73bn) on building affordable homes for low-income Saudis, inertia remains.

Indeed, unhappiness with a system that still sees around 60 per cent of the population renting and less than 4 per cent of homes being bought with mortgages bubbled over into the media this year – Saudi activists launched a boycott campaign against the high prices of land and the difficulties citizens faced in buying homes."

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