Dependent Fees lead to reduced Housing Rents
After fall of oil prices, the economy was sluggish in Saudi Arabia. The increasing house rents had stabilized. However, the recent implementation of Dependent Fees rule has very much impacted the housing sector. House rents rates have fallen by 20 to 30%. This is due to the reason that many families are leaving the country as they cannot afford to pay the dependent fee. Such houses which have been vacated are finding difficulty in getting tenants. Hence you can see pictures the one below where they are giving 1 month free offer.
It is seen that many expatriates have negotiated with house owners or their representative to reduce their rents by as much SR 4,000 to 5000 riyals. See below snap shot from comment section in the Arab News website.
In some cases, the tenants of the building are jointly approaching the house owners with their to reduce the house rent or they will vacate the building.
To know complete information about Dependent fee – Process, Payment procedure, iqama linking and Exit Visa issue see qSaudi – Dependent Fees Q & A