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Saudi Arabia's real estate deals rise 19% to SAR 22.26 bln last month
Riyadh city
The value of Saudi Arabia's real estate transactions grew by 19% to SAR 22.26 billion in January-February 2022 (Jumada Al Thani 1443 Hijri year), compared to SAR 18.72 billion in the same period last year, Ministry of Justice data showed.
The real estate deals increased by 15%, or SAR 2.8 billion, month-on-month (MoM).
The number of the real estate transactions during the same period stood at around 24,700, down from nearly 31,500 a year earlier. The number of properties sold also fell to 26,050 for the same period.
|
Total Value of Real Estate Market Transactions (SAR bln) |
|||
|
Month* |
2020/2021 (1442) |
2021/2022 (1443) |
Change |
|
Aug. - Sept. (Muharram) |
13.15 |
15.54 |
+18% |
|
Sept. - Oct. (Safar) |
11.75 |
14.56 |
+24% |
|
Oct. - Nov. (Rabi Al Awwal) |
18.16 |
18.11 |
(0.3%) |
|
Nov. - Dec. (Rabi Al Thani) |
18.70 |
18.03 |
(4%) |
|
Dec. - Jan. (Jumada Al Awwal) |
14.43 |
19.41 |
+35% |
|
Jan. - Feb. (Jumada Al Thani) |
18.72 |
22.26 |
+19% |
|
Feb. - March (Rajab) |
23.16 |
-- |
-- |
|
March - April (Sha’ban) |
23.29 |
-- |
-- |
|
April - May (Ramadan) |
15.19 |
-- |
-- |
|
May - June (Shawwal) |
11.69 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
17.29 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
11.83 |
-- |
-- |
|
Total |
197.38 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
The commercial real estate deals rose 66% year-on-year (YoY) to SAR 8 billion. The value of residential deals increased by 1% YoY to SAR 12.79 billion, while the agricultural industrial deals were valued at nearly SAR 1.49 billion last month.
The residential deals represented 57% of total real estate deals last month, while commercial deals accounted for 36%, and agricultural and industrial deals represented 7%.
|
Real Estate Market Transactions in Detail (SAR bln) |
||||||
|
|
Residential |
Commercial |
||||
|
Month* |
2020/2021 (1442) |
2021/2022 (1443) |
Change |
2020/2021 (1442) |
2021/2022 (1443) |
Change |
|
Aug. - Sept. (Muharram) |
9.63 |
9.10 |
(6%) |
2.74 |
5.20 |
+90% |
|
Sept. - Oct. (Safar) |
8.12 |
8.94 |
+10% |
3.02 |
4.52 |
+50% |
|
Oct. - Nov. (Rabi Al Awwal) |
10.53 |
10.92 |
+4% |
6.78 |
5.64 |
(17%) |
|
Nov. - Dec. (Rabi Al Thani) |
10.47 |
10.64 |
+2% |
6.65 |
5.60 |
(16%) |
|
Dec. – Jan. (Jumada Al Awwal) |
9.48 |
12.04 |
+27% |
3.41 |
5.57 |
+63% |
|
Jan. - Feb. (Jumada Al Thani) |
12.70 |
12.79 |
+1% |
4.82 |
7.98 |
+66% |
|
Feb. - March (Rajab) |
14.49 |
-- |
-- |
5.84 |
-- |
-- |
|
March - April (Sha’ban) |
15.87 |
-- |
-- |
5.48 |
-- |
-- |
|
April - May (Ramadan) |
9.60 |
-- |
-- |
4.27 |
-- |
-- |
|
May - June (Shawwal) |
7.15 |
-- |
-- |
3.48 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
10.64 |
-- |
-- |
5.54 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
6.59 |
-- |
-- |
4.20 |
-- |
-- |
|
Total |
125.32 |
-- |
-- |
56.22 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
Land sale transactions accounted for nearly 91.5%, or SAR 20.36 billion, of total realty deals in January-February 2022, followed by the apartment sales with a value of SAR 1.02 billion.
The below table shows real estate market transactions by type in January-February 2022:
|
Real Estate Market Transactions by Type (SAR mln) |
||
|
Type |
Transaction Value |
Percentage to total |
|
Land Plot |
20,364.5 |
91.5 % |
|
Apartment |
1,022.9 |
4.6 % |
|
Agricultural Land |
756.1 |
3.4 % |
|
House |
45.5 |
0.2 % |
|
Villa |
30.4 |
0.1 % |
|
Showroom/Shop |
22.4 |
0.1 % |
|
Building |
7.5 |
0.03 % |
|
Shopping Mall |
4.0 |
0.02 % |
|
Utility |
2.5 |
0.01 % |
|
Chalet |
1.5 |
0.01 % |
|
Total |
22,257.2 |
100.0 % |
Land space fell 46% to 122.27 million square meters (sqm) compared with 225.6 million sqm in the same period the year before.
During H1 2021/2022, the land space more than doubled to 2.25 billion sqm.
|
Total Area of Real Estate Market Transactions (mln sqm) |
|||
|
Month |
2020/2021 (1442) |
2021/2022 (1443) |
Change |
|
Aug. - Sept. (Muharram) |
172.29 |
410.65 |
+138% |
|
Sept. - Oct. (Safar) |
128.20 |
403.10 |
+214% |
|
Oct. - Nov. (Rabi Al Awwal) |
209.04 |
446.51 |
+114% |
|
Nov. - Dec. (Rabi Al Thani) |
217.42 |
511.88 |
+135% |
|
Dec. – Jan. (Jumada Al Awwal) |
136.81 |
358.56 |
+162% |
|
Jan. - Feb. (Jumada Al Thani) |
225.56 |
122.27 |
(46%) |
|
Feb. - March (Rajab) |
245.87 |
-- |
-- |
|
March - April (Sha’ban) |
343.81 |
-- |
-- |
|
April - May (Ramadan) |
241.00 |
-- |
-- |
|
May - June (Shawwal) |
275.72 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
374.00 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
254.28 |
-- |
-- |
|
Total |
2824.01 |
-- |
-- |
*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 9.8 billion. Jeddah took the second place with transactions worth SAR 4.2 billion in January-February 2022.
|
Real Estate Transactions in Major Cities (SAR bln) |
||||||
|
City |
Residential |
Commercial |
||||
|
2020/2021 1442 |
2021/2022 1443 |
Change |
2020/2021 1442 |
2021/2022 1443 |
Change |
|
|
Riyadh |
4,816.47 |
5,313.29 |
+ 10% |
2,391.72 |
4,475.73 |
+ 87% |
|
Jeddah |
2,100.16 |
2,877.00 |
+ 37% |
816.53 |
1,340.16 |
+ 64% |
|
Al Khobar |
555.51 |
485.47 |
(13%) |
286.42 |
586.31 |
+ 105% |
|
Dammam |
558.89 |
392.50 |
(30%) |
183.27 |
557.50 |
+ 204% |
|
Buraidah |
284.65 |
504.93 |
+ 77% |
64.52 |
107.28 |
+ 66% |
|
Madinah |
456.95 |
439.75 |
(4%) |
127.16 |
151.10 |
+ 19% |
|
Makkah |
1,087.77 |
489.43 |
(55%) |
95.24 |
100.82 |
+ 6% |
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