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Current Riyadh Compound asking prices vs negotiated prices

Current Riyadh Compound asking prices vs negotiated prices

Old Apr 17th 2019, 1:59 pm
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Default 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!!

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Old Apr 21st 2019, 9:53 am
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Default 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
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Old Apr 21st 2019, 12:59 pm
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Default Re: Current Riyadh Compound asking prices vs negotiated prices

Originally Posted by FriendlyExpat View Post
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!!
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.
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Old Apr 21st 2019, 1:03 pm
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Default Re: Current Riyadh Compound asking prices vs negotiated prices

Originally Posted by nottmbantam View Post
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.
Thanks for the information about Wadi Qurtoba - if it’s new & shiny that’s a bonus but more importantly for the missus is that there’s a community already established with a social life ready to join - any idea how that’s going at WQ ?
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Old Apr 21st 2019, 1:49 pm
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Default Re: Current Riyadh Compound asking prices vs negotiated prices

Originally Posted by pattaganan View Post
Thanks for the information about Wadi Qurtoba - if it’s new & shiny that’s a bonus but more importantly for the missus is that there’s a community already established with a social life ready to join - any idea how that’s going at WQ ?
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.
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Old Apr 21st 2019, 6:44 pm
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Default Re: Current Riyadh Compound asking prices vs negotiated prices

Originally Posted by nottmbantam View Post
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.
Many thanks for your advice - greatly appreciated
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Old May 6th 2019, 1:22 pm
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Default 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...
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Old Jul 24th 2019, 2:35 pm
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Default 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

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Old Jul 25th 2019, 11:22 am
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Default Re: Current Riyadh Compound asking prices vs negotiated prices

Originally Posted by FriendlyExpat View Post
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...
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.
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Old Aug 19th 2019, 8:53 am
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Default 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.
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Old Aug 19th 2019, 8:54 am
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Default 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
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Old Aug 19th 2019, 8:59 am
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Default 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.
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Old Oct 27th 2019, 11:31 pm
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Default Re: Current Riyadh Compound asking prices vs negotiated prices

Originally Posted by marce54 View Post
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.
Hi Marce! Where did you end up living? I am supposed to move there from dubai in 1 or 2 months.
thanks
Anna
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