Increase in Property Prices in Al-Madinah
Al-Madina has witnessed a rise in prices of real estate at varied rates. Real estate prices vary according to location, region and proximity of the property to the central area where The Holy Mosque is. The reason for this rise is attributed to the migration of people from villages to cities and the expansion of construction. Development of the Knowledge Economic City which activity is represented in the development of Medina through the study of the general plan and the development of infrastructure; in addition to providing services that support the real estate; especially high quality and varied real estate projects.
In the frame of the raise in real estate prices in Al-Madinah, some builders asked for setting a limit to the value of land, residential apartments and villas, so that increase or decrease in prices on each category is determined.
The presence of upscale neighborhoods in Madina is directly proportional to the presence of villas. That means the percentage of villas increases in each city where there are wealthy neighborhoods because those neighborhoods will be a target for owners with high taste and who love to settle in a villas located in a luxurious neighborhood.
One of those neighborhoods is the beautiful Sultana, which is characterized by the presence of luxurious buildings, clean streets and good infrastructure. You can buy the most beautiful villas there, as well as AlAzhari neighborhood which is close to the Holy Mosque. There is also Al Hada neighborhood which has villas only. It is a very convenient option for admirers of freehold villas. This place is considered one of the most tranquil and high-end neighborhoods. It’s residents are mainly from the high class people in the society. It has four exits which means you will not complain about traffic crisis. There are also AlBadrani scheme and Al Faisaliah neighborhoods which you should consult Almendina people when you want to buy your own villa.
Do you have any intention to buy a villa in Madinah
Do not rush, Al-Madinah is usually active during Ramadan and Hajj and continues like this every year. Therefore, you should take your time and be a little cautious when selecting the right neighborhood in the first place. You should also ask about a villa that suits your needs. Your financial budget will certainly determine the choice of size, features and neighborhood. As mentioned earlier, apartments’ prices vary according to the neighborhood and features.
Some villas, which reach up to one million and a half Riyals, consist of two floors, five rooms, three toilets, a lounge and a kitchen on each floor and covered with wonderful Jordanian sandstone. The same one could be found in another neighborhood for two million Saudi Riyals. Villas building systems vary; some are built with stairs; consisting of two apartments and an extension; while others are built according to the American system. They consist of 9 rooms, for example, 6 toilets, a kitchen and has elevator driver’s room, maid’s room, and laundry. Special attention should be given to the finishing by assigning reliable companies.
Photographs are from flickr and Lamudi