Household Preferences for Apartment Ownership within the Context of Rising Housing Costs in Dammam Metropolitan Area, Saudi Arabia

Abstract

Housing is both a physical and social system, enhancing and harmonizing the environmental, economic, and socio-cultural dimensions of sustainable and affordable living. In Saudi Arabia, the confluence of housing affordability and homeownership challenges have intensified alongside rapid urbanization. This study investigates preferences for apartment homeownership amidst escalating housing costs in the country. This research employs a mixed-method approach, incorporating a literature review and expert surveys (n = 61) using purposive sampling techniques to examine the factors influencing individuals' decisions on apartment homeownership. Using SPSS software, descriptive (percentages) and inferential (ANOVA and t-test) statistics are utilized to analyze socio-cultural and economic factors, including gender, nationality, location, financial considerations, and cultural influences. The findings revealed that nearly 90% of the respondents noted a growing market for apartment housing in Dammam Metropolitan Area (DMA), Saudi Arabia,70.5% expressed that DMAresidents exhibit limited desire for apartment homeownership. Reasons cited include large household size (70.4%), poor apartment design and quality (62.4%), and apartments failing to sufficiently cater to family cultural needs (63.9%). By shedding light on the dynamics that shape residential choices in the face of increased housing expenses, this research provides valuable insights for policymakers, real estate developers, and urban planners working to tackle housing affordability challenges in DMA specifically and Saudi Arabiain general and other developing nations.