Saudi Arabia implements 5% real estate transaction tax for all buyers

Saudi Arabia imposes a 5% real estate transaction tax on all property transfers, including those involving foreigners. This tax applies to both Saudi citizens and expatriates. In specific areas of Riyadh, Jeddah, Mecca, and Medina, foreigners may face an additional 2% fee on property transactions. The regulations aim to manage urban development, improve living standards, and ensure sustainable growth in the real estate market.