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Saudi Arabia's real estate deals fall 3% to SAR 18.1 bln last month
Riyadh city
The value of Saudi Arabia's real estate transactions declined 3% to nearly SAR 18.07 billion in November-December 2021 (Rabi' Al Awwal 1443 Hijri year), compared to SAR 18.72 billion in the same period last year, Ministry of Justice data showed.
The real estate deals declined by 0.4%, or SAR 77 million, month-on-month (MoM).
The number of the real estate transactions during the same period stood at around 21,700, compared with nearly 29,100 a year earlier.
The number of properties sold also fell to 22,670 for the same period.
|
Total Value of Real Estate Market Transactions (SAR bln) |
|||
|
Month* |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
|
Aug. - Sept. (Muharram) |
13.18 |
15.57 |
+18% |
|
Sept. - Oct. (Safar) |
11.77 |
14.58 |
+24% |
|
Oct. - Nov. (Rabi Al Awwal) |
18.18 |
18.15 |
(0.2%) |
|
Nov. - Dec. (Rabi Al Thani) |
18.72 |
18.07 |
(3%) |
|
Dec. - Jan. (Jumada Al Awwal) |
14.46 |
-- |
-- |
|
Jan. - Feb. (Jumada Al Thani) |
18.75 |
-- |
-- |
|
Feb. - March (Rajab) |
23.19 |
-- |
-- |
|
March - April (Sha’ban) |
23.33 |
-- |
-- |
|
April - May (Ramadan) |
15.20 |
-- |
-- |
|
May - June (Shawwal) |
11.70 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
17.32 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
11.84 |
-- |
-- |
|
Total |
197.66 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
Commercial real estate deals fell 16% year-on-year (YoY) to SAR 5.6 billion. Meanwhile, the value of residential deals increased by 2% YoY to SAR 10.7 billion.
The agricultural industrial deals were valued at nearly SAR 1.81 billion last month.
The residential deals represented 59% of total real estate deals last month, while commercial and agricultural industrial deals accounted for 31% and 10%, respectively.
|
Real Estate Market Transactions in Detail (SAR bln) |
||||||
|
Month* |
Residential |
Commercial |
||||
|
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
|
|
Aug. - Sept. (Muharram) |
9.65 |
9.11 |
(6%) |
2.74 |
5.20 |
+90% |
|
Sept. - Oct. (Safar) |
8.13 |
8.95 |
+10% |
3.02 |
4.52 |
+50% |
|
Oct. - Nov. (Rabi Al Awwal) |
10.54 |
10.94 |
+4% |
6.78 |
5.64 |
(17%) |
|
Nov. - Dec. (Rabi Al Thani) |
10.48 |
10.66 |
+2% |
6.65 |
5.60 |
(16%) |
|
Dec. – Jan. (Jumada Al Awwal) |
9.49 |
-- |
-- |
3.41 |
-- |
-- |
|
Jan. - Feb. (Jumada Al Thani) |
12.71 |
-- |
-- |
4.82 |
-- |
-- |
|
Feb. - March (Rajab) |
14.50 |
-- |
-- |
5.84 |
-- |
-- |
|
March - April (Sha’ban) |
15.90 |
-- |
-- |
5.48 |
-- |
-- |
|
April - May (Ramadan) |
9.60 |
-- |
-- |
4.27 |
-- |
-- |
|
May - June (Shawwal) |
7.16 |
-- |
-- |
3.48 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
10.65 |
-- |
-- |
5.54 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
6.59 |
-- |
-- |
4.20 |
-- |
-- |
|
Total |
125.40 |
-- |
-- |
56.23 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
Land sale transactions accounted for nearly 84%, or SAR 15.2 billion, of total realty deals in November - December 2021, followed by the agricultural land sales with a value of SAR 1.25 billion.
The below table shows real estate market transactions by type in November - December 2021:
|
Real Estate Market Transactions by Type (SAR mln) |
||
|
Type |
Transaction Value |
Percentage to total |
|
Land Plot |
15236.4 |
84.3% |
|
Agricultural Land |
1245.3 |
6.9% |
|
Apartment |
865.7 |
4.8% |
|
Utility |
603.3 |
3.3% |
|
House |
54.3 |
0.3% |
|
Villa |
36.2 |
0.2% |
|
Mall |
19.9 |
0.1% |
|
Showroom/Shop |
4.7 |
0.03% |
|
Building |
1.3 |
0.01% |
|
Chalet |
1.0 |
0.01% |
|
Total |
18068.0 |
100.0% |
Land space rose 140% to 527.2 million square meters (sqm), compared with the same period of 2020, when it reached 219.3 million sqm.
|
Total Area of Real Estate Market Transactions (mln sqm) |
|||
|
Month |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
|
Aug. - Sept. (Muharram) |
175.12 |
426.13 |
+143% |
|
Sept. - Oct. (Safar) |
137.68 |
407.35 |
+196% |
|
Oct. - Nov. (Rabi Al Awwal) |
215.36 |
456.89 |
+112% |
|
Nov. - Dec. (Rabi Al Thani) |
219.29 |
527.22 |
+140% |
|
Dec. – Jan. (Jumada Al Awwal) |
146.60 |
-- |
-- |
|
Jan. - Feb. (Jumada Al Thani) |
229.56 |
-- |
-- |
|
Feb. - March (Rajab) |
257.83 |
-- |
-- |
|
March - April (Sha’ban) |
350.00 |
-- |
-- |
|
April - May (Ramadan) |
247.34 |
-- |
-- |
|
May - June (Shawwal) |
279.82 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
388.11 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
257.45 |
-- |
-- |
|
Total |
2904.17 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
Riyadh was the most active city by value of residential and commercial transactions, reaching SAR 7.26 billion. Jeddah took the second place with transactions worth SAR 2.75 billion in November-December 2021.
|
Real Estate Transactions in Major Cities in Oct. – Nov. (Rabi Al Awwal) (SAR mln) |
||||||
|
City |
Residential |
Commercial |
||||
|
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
|
|
Riyadh |
3869.0 |
4892.3 |
+26% |
3607.6 |
3368.0 |
(7%) |
|
Jeddah |
1639.9 |
1814.8 |
+11% |
973.2 |
934.9 |
(4%) |
|
Dammam |
550.4 |
381.4 |
(31%) |
792.5 |
220.4 |
(72%) |
|
Madinah |
606.5 |
445.6 |
(27%) |
105.0 |
133.2 |
+27% |
|
Al Khobar |
496.7 |
397.0 |
(20%) |
350.3 |
172.3 |
(51%) |
|
Makkah |
697.6 |
451.7 |
(35%) |
83.8 |
95.2 |
+14% |
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