Saudi Prince Vows to Stop ‘Unacceptable’ Rise In Property Prices

Saudi Arabia’s Crown Prince Mohammed Bin Salman said he will try to halt an “unacceptable” increase in property prices, highlighting the kingdom’s concerns about a soaring real estate market and its impact on people’s living costs.

“The strong economic growth the kingdom is experiencing today has been accompanied by a rise in residential property prices in some areas of the kingdom to unacceptable levels,” the de-facto Saudi ruler said in a rare national address on Wednesday night.