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Saudi Government has allowed Iqama holder expats/foreigners to buy one property in Saudi Arabia if the following conditions are met.
If you can invest up to SR 4 million in residential properties in Saudi Arabia, you can get a Saudi Premium Residency.
5 conditions to own a property
The following 5 conditions must be met for a foreigner or expat to buy a property in Saudi Arabia;
- Iqama is valid.
- Property information should be available with a copy of the official document.
- He should not have any other property in his name in Saudi Arabia.
- The property should not be in Makkah or Madina.
- The expat will use the property only for residence purposes.
- Search for the property.
- Conduct Building Survey – Shaikh Al Aqar
- Agree on the price.
- Conduct a Title Search.
- Obtain MOI permission (explained below)
- Apply for and Obtain Mortgage & Pre Approval.
- Prepare Documents & Ready Payment.
- Register and First Visit To Notary Public Office (Ministry of Justice)
- Transfer of Deeds & Final Visit To Notary Public Office (Ministry of Justice).
- Receive The Title Deeds In Your Name.
Apply for MOI approval
Foreigners can apply for purchasing a property in Saudi Arabia through their Absher account. To do that;
- Login to Absher: https://absher.sa
- Click on the “My Services” option.
- Select “General Services“.
- Click on the “Request Property Owning for Non-Saudis.”
A new page will open with all the terms and conditions for foreigners to buy a property in Saudi Arabia.
- Click on the “Create Request“.
- Enter property information.
What if Iqama expires?
You must be thinking about what would happen if you buy a property in Saudi Arabia as an expat and then, for any reason, you cannot renew Iqama.
The Saudi government does not give you any right to extend your Iqama based on owning property in Saudi Arabia unless your portfolio is worth SR 4 million, entitling you to a Saudi Premium Residency.
Property in Makkah and Madina
Generally, Non-Saudis are not allowed to buy any property in Makkah and Madina.
However, expats living in Saudi Arabia can buy shares in real estate investment funds that own properties in Makkah and Madina. In this way, they can indirectly purchase real estate in Makkah and Madina. – Saudi Gazette
Rules for Inherited Property
Expats can own a property or house in Saudi Arabia if inherited. Many expats own property in Saudi Arabia as it was allowed before.
Moreover, there are Saudis whose children could not get Saudi nationality, so they are still treated as iqama holders.
Property Linked to Waqf
Foreigners are not entitled to property rights if the property was linked to waqf and if the Supreme Council of Endowment has a supervisory role.