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- Title
Retiree home ownership in Saudi Arabia: the role of geographic, demographic, social and economic variables.
- Authors
Al-Khraif, Rshood M.; Al-Mutairi, Abdullah N.; Alradihan, Khaled O.; Salam, Asharaf Abdul
- Abstract
Home ownership has implications for a family’s empowerment and quality of life, especially post-retirement. Economic conditions, the cost of living, and child-rearing create barriers to accumulating immovable assets, including the home. This study identifies the determinants of home ownership among retirees—geographic, demographic, social and economic variables—and explains the effect using data drawn from five administrative areas in Saudi Arabia (Riyadh, Madina, Eastern, Jazan, and Jouf) representing planning regions (Northern, Southern, Eastern, Western and Central). A large proportion of retirees (82%) own a home (purchased before or after retirement), with regional differences. Retirees from Jouf and Jazan have higher ownership rates than their counterparts in Riyadh, Madina, or Eastern, with rates affected by geographic, demographic, social, and economic factors. As determinants, geographic and demographic factors have major roles while economic factors play a typical role in decision-making. A mix of higher education, professional employment, longer duration of employment and higher salaries, when combined with locational preferences and family requirements, motivate or enable home ownership. Retiree home-ownership is important to dignified post-retirement (old-age) life, and so measures and policies may be strengthened to empower people to own homes during their working life.
- Subjects
SAUDI Arabia; HOME ownership; RETIREES; RETIREMENT investments; SOCIAL factors; TWENTY-first century; ECONOMIC history
- Publication
Journal of Population Research, 2018, Vol 35, Issue 2, p169
- ISSN
1443-2447
- Publication type
Article
- DOI
10.1007/s12546-018-9202-2