Saudi Gazette report JEDDAH — Some social networking sites activists decided to launch a campaign they dubbed “No to purchasing real estate” in an attempt to exercise pressure on real estate businessmen and decision-makers. The activists want decision-makers and businessmen to reduce prices that have gone out of control. They say as a result of this, many citizens are unable to afford these exorbitant prices and cannot buy a plot of land to build a home. Abdul Rahman Al-Harbi complained that most citizens cannot afford the current real estate prices. “If you go to any real estate office looking for a suitable piece of land, you'll be shocked at the prices. A 100-square-meter plot at a remote area could cost well over half a million, which is completely unreasonable,” Al-Harbi said. He added that it is extremely difficult for a family of five to own an apartment in light of current prices. “Where would they come up with SR1 million to buy a decent apartment?” Al-Harbi asked. Mushbab Al-Qahtani, a teacher, tried to find a plot of land for a fair price on the outskirts of Jeddah to build a house for his family but he could not. Most plots cost SR10,000-SR12,000 a meter. Al-Qahtani, however, does not pin high hopes on the new campaign launched by a group of activists. “Such campaigns might achieve good results if they were launched in other countries where there are social organizations that exercise pressure on real estate sharks. Here the situation is different,” he said.
