Khalid Al-Sulaiman

Okaz

Many young Saudi men today realize that they will never be able to own their own homes, let alone their own land. Will owning an apartment also become impossible? In fact, the rent for apartments has skyrocketed and is sometimes equal to the amount paid for renting a villa in the past.



There is nothing to keep in check the increase in rents and there are no standards to appraise the real value of buildings or their locations. As for the regulations we have been reading about in newspapers and which are supposed to regulate the relationship between tenants and landlords, they are merely words on paper that have never seen the light of day due to bureaucracy.



Most apartments whose rents have gone up are located in old buildings. I am sure the owners of the buildings have already made enough profit from renting these buildings out for years and years. There is no justification for this greed. Landlords take advantage of the current market situation where there are no standards for appraising the real value and condition of real estate. The rent of some apartments is expensive although the condition of the building is poor.



How can a young man who has just got married or has a small family find a good apartment if the market is controlled by greedy landlords? This very greed has destroyed the dreams of owning a home, let alone renting an apartment. I believe there are two options for the authorities to consider: either ensure that the standards of appraising the rent of a building are enforced or pay a housing allowance to affected citizens until the housing projects embarked on by the government are completed.