Real estate in Medina

The city is the second holiest city in Islam after Mecca and attracts millions of pilgrims annually. This has a significant impact on the residential and commercial real estate markets.

Property Types

1. Residential Real Estate:

- Apartments and houses are in high demand among tourists and pilgrims, especially during the Hajj and Umrah periods.

- Rental prices vary depending on proximity to the Prophet Muhammad Mosque and the availability of infrastructure.

2. Commercial Real Estate:

- Office and retail space are in demand due to tourism and business development around holy sites.

- Investments in commercial real estate are seen as a stable source of income.

3. Tourist Accommodation:

- Hotels and apartments are primarily located near major attractions, providing comfortable accommodations for city visitors.

Market Features

- High Demand: The constant influx of pilgrims maintains high demand for residential and commercial properties.

- Legal Restrictions: Foreigners purchasing real estate are subject to strict regulations, including the need for special permits and the participation of local partners.

- Investment: Real estate in Medina is considered a reliable investment, despite high prices and limited access for foreigners.

Infrastructure

The city has a well-developed infrastructure, including modern transportation systems, medical facilities, and educational centers. Its proximity to historical sites makes the city attractive for both living and visiting.

Thus, real estate in Medina represents a promising sector for investors and owners of residential and commercial properties, meeting the needs of numerous pilgrims and tourists.