Current Riyadh Compound asking prices vs negotiated prices
Apr 17th 2019, 12:59 pm
#1
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Current Riyadh Compound asking prices vs negotiated prices
I'm considering moving out of my current Riyadh compound this summer as am still paying full price (300k SAR) and the compound is going downhill.
Anyone have any information on current compound prices? I'd probably be looking at a 2/3 bed villa somewhere like Al Nakhla, Al Bustan, Arizona, Cordoba or the new compound near to Al Nakhla (can't remember what it's called).
What would be really helpful is knowing how much actual discount people are currently negotiating to get vs the current asking prices. Thanks!!
Anyone have any information on current compound prices? I'd probably be looking at a 2/3 bed villa somewhere like Al Nakhla, Al Bustan, Arizona, Cordoba or the new compound near to Al Nakhla (can't remember what it's called).
What would be really helpful is knowing how much actual discount people are currently negotiating to get vs the current asking prices. Thanks!!
Last edited by FriendlyExpat; Apr 17th 2019 at 1:01 pm.
Apr 21st 2019, 8:53 am
#2
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Re: Current Riyadh Compound asking prices vs negotiated prices
Very interested to hear people’s recent experience as I am expecting to move to Riyadh in May - any guidance would be gretefully received
Apr 21st 2019, 11:59 am
#3
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Joined: Jan 2008
Location: Riyadh.
Posts: 1,899
Re: Current Riyadh Compound asking prices vs negotiated prices
I'm considering moving out of my current Riyadh compound this summer as am still paying full price (300k SAR) and the compound is going downhill.
Anyone have any information on current compound prices? I'd probably be looking at a 2/3 bed villa somewhere like Al Nakhla, Al Bustan, Arizona, Cordoba or the new compound near to Al Nakhla (can't remember what it's called).
What would be really helpful is knowing how much actual discount people are currently negotiating to get vs the current asking prices. Thanks!!
Anyone have any information on current compound prices? I'd probably be looking at a 2/3 bed villa somewhere like Al Nakhla, Al Bustan, Arizona, Cordoba or the new compound near to Al Nakhla (can't remember what it's called).
What would be really helpful is knowing how much actual discount people are currently negotiating to get vs the current asking prices. Thanks!!
Most of the others were always a little more open to discount 10-15% - especially if you paid the full whack for 12 months up front. Most compounds now will not have a waiting list due to reducing expat numbers in general, so prices can be a little more flexible. Personally though, I wouldn't pay for 12 months up front. I've experienced and also witnessed many expats getting the bullet at very short notice, with absolutely no warning.
Apr 21st 2019, 12:03 pm
#4
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Re: Current Riyadh Compound asking prices vs negotiated prices
The new one not far from Al Nakla is called Wadi Qurtoba. Had a quick look around a few months ago, a two bed apartment was 150k. Very nice standard. Out of the ones we looked at, they were the most resistant to negotiating. Refused to budge on price for a single unit, and said if a company came in and took several units, then maybe...
Most of the others were always a little more open to discount 10-15% - especially if you paid the full whack for 12 months up front. Most compounds now will not have a waiting list due to reducing expat numbers in general, so prices can be a little more flexible. Personally though, I wouldn't pay for 12 months up front. I've experienced and also witnessed many expats getting the bullet at very short notice, with absolutely no warning.
Most of the others were always a little more open to discount 10-15% - especially if you paid the full whack for 12 months up front. Most compounds now will not have a waiting list due to reducing expat numbers in general, so prices can be a little more flexible. Personally though, I wouldn't pay for 12 months up front. I've experienced and also witnessed many expats getting the bullet at very short notice, with absolutely no warning.
Apr 21st 2019, 12:49 pm
#5
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Re: Current Riyadh Compound asking prices vs negotiated prices
No worries. We visited in December, and at that time , it only had 10% occupancy. It's a big place, I think 6-700 units, so will take some time to generate a community feel, but they did say they were letting units at a good pace. Whether this was just sales talk, I don't know. If I were to move now, that's probably the place I'd go to. Good location, and very nice facilities.
Apr 21st 2019, 5:44 pm
#6
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Re: Current Riyadh Compound asking prices vs negotiated prices
No worries. We visited in December, and at that time , it only had 10% occupancy. It's a big place, I think 6-700 units, so will take some time to generate a community feel, but they did say they were letting units at a good pace. Whether this was just sales talk, I don't know. If I were to move now, that's probably the place I'd go to. Good location, and very nice facilities.
May 6th 2019, 12:22 pm
#7
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Re: Current Riyadh Compound asking prices vs negotiated prices
Thanks - helpful tips. I hear 10% to 15% discounts are achievable at the moment - can anyone confirm this and actual amounts paid would be great? I know that a lot of the compounds are under-occupied at the moment...
Jul 24th 2019, 1:35 pm
#8
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Re: Current Riyadh Compound asking prices vs negotiated prices
The rental price follows the purchase price and period. Don't let some agent try to tell you otherwise. According to Savils Arcadis and the Other property prices in The Middle East are in free fall. Riyadh is dropping at between 11 and 14% depending on who you choose to believe. If you are going to tie in for a years rent get 15% if 6 months 10% would be a very good deal. If you have friends in the same position look together the market likes bulk.
https://rightcompound.com/dhc-compound-201
https://rightcompound.com/dhc-compound-201
Last edited by HiHo; Jul 24th 2019 at 1:59 pm.
Jul 25th 2019, 10:22 am
#9
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Re: Current Riyadh Compound asking prices vs negotiated prices
Generally speaking, yes, compounds are under occupied and prices have fallen. There is also a tendency for payment methods to be more flexible, eg 2 x 6 monthly payments with no increase in price. Previously, if you chose to do this, the installment method usually incurred a fee. Deposits also seems to be reducing.
Aug 19th 2019, 7:53 am
#10
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Re: Current Riyadh Compound asking prices vs negotiated prices
Hi there,
I was wondering if you had moved yet and to which compound? I'm moving to Riyadh in Sept/Oct and am trying to gather intel. I was also wondering about community spirit/activities etc in the compounds like your wife. I'll be by myself which makes it a little trickier I guess. Anyway, would love to hear from you (or wife) if you have time. Cheers.
I was wondering if you had moved yet and to which compound? I'm moving to Riyadh in Sept/Oct and am trying to gather intel. I was also wondering about community spirit/activities etc in the compounds like your wife. I'll be by myself which makes it a little trickier I guess. Anyway, would love to hear from you (or wife) if you have time. Cheers.
Aug 19th 2019, 7:54 am
#11
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Re: Current Riyadh Compound asking prices vs negotiated prices
Hi there,
I'm moving to Riyadh in Sept/Oct - are you there now - how's it going? Do you have any intel you could share with me? Would be most appreciated. Thank you
I'm moving to Riyadh in Sept/Oct - are you there now - how's it going? Do you have any intel you could share with me? Would be most appreciated. Thank you
Aug 19th 2019, 7:59 am
#12
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Posts: 12
Re: Current Riyadh Compound asking prices vs negotiated prices
Hi there, saw your response to another thread, seems like you've been in Riyadh a while and are the man (or woman), so to speak
Anyway, I'm moving there in Sept/Oct and am trying to get as much intel as possible. I'll have different challenges from other people (female, divorced, old), but hopefully not too many, lol. I've got a long list of compounds to look at from my employer but am really looking for one that caters for singles, not just families. I hear there's not much to do there compared to Dubai so making friends on the compounds is key. Any feedback will be much appreciated. Cheers.
Anyway, I'm moving there in Sept/Oct and am trying to get as much intel as possible. I'll have different challenges from other people (female, divorced, old), but hopefully not too many, lol. I've got a long list of compounds to look at from my employer but am really looking for one that caters for singles, not just families. I hear there's not much to do there compared to Dubai so making friends on the compounds is key. Any feedback will be much appreciated. Cheers.
Oct 27th 2019, 10:31 pm
#13
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Joined: Oct 2019
Posts: 8
Re: Current Riyadh Compound asking prices vs negotiated prices
Hi there, saw your response to another thread, seems like you've been in Riyadh a while and are the man (or woman), so to speak
Anyway, I'm moving there in Sept/Oct and am trying to get as much intel as possible. I'll have different challenges from other people (female, divorced, old), but hopefully not too many, lol. I've got a long list of compounds to look at from my employer but am really looking for one that caters for singles, not just families. I hear there's not much to do there compared to Dubai so making friends on the compounds is key. Any feedback will be much appreciated. Cheers.
Anyway, I'm moving there in Sept/Oct and am trying to get as much intel as possible. I'll have different challenges from other people (female, divorced, old), but hopefully not too many, lol. I've got a long list of compounds to look at from my employer but am really looking for one that caters for singles, not just families. I hear there's not much to do there compared to Dubai so making friends on the compounds is key. Any feedback will be much appreciated. Cheers.
thanks
Anna
