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Riyadh Freezes Rent For Five Years To Tackle Rising Prices

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Riyadh just hit pause on rent hikes, and tenants across the city are probably breathing a sigh of relief. With prices climbing higher every year, this bold move aims to keep homes affordable and the wallets of current residents a little happier.

City leaders quickly took action to freeze rent

Prince Mohammed bin Salman released orders in Riyadh to freeze rent prices for five years, hoping to put the brakes on the rapid rise in housing costs. This decision came after residents voiced concerns about affordability and the strain on family budgets. By stepping in, this creates a more stable environment for both renters and landlords for the next couple of years.

Residents welcomed the change

People living in Riyadh have definitely been feeling the pinch as rents climbed year after year! Many families and young professionals found it tough to keep up. Now, with the freeze in place, they can plan ahead without worrying about sudden rent spikes.

 

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Landlords and property owners both have different takes on the freeze, but some see it as a chance to keep tenants happy and reduce turnover!

Read next: Rani’s Hobaybat World Takes Over Roshn Front Riyadh

 

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