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Saudi Arabia's real estate deals up 13% to SAR 17.1 bln last month
Riyadh city
The value of Saudi Arabia's real estate transactions rose 13% to SAR 17.13 billion in April-May 2022 (Ramadan 1443 Hijri year), compared to SAR 15.19 billion in the same period last year, Ministry of Justice data showed.
The real estate deals dropped by 9%, or SAR 1.71 billion, month-on-month (MoM).
The number of real estate transactions during the same period stood at around 17,600, down from nearly 21,200 a year earlier. The number of properties sold also fell to 18,400 for the same period.
|
Total Value of Real Estate Transactions (SAR bln) |
|||
|
Month* |
2020/2021 (1442) |
2021/2022 (1443) |
Change |
|
Aug. - Sept. (Muharram) |
13.15 |
15.54 |
+18% |
|
Sept. - Oct. (Safar) |
11.75 |
14.59 |
+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 |
19.44 |
+35% |
|
Jan. - Feb. (Jumada Al Thani) |
18.72 |
22.26 |
+19% |
|
Feb. - March (Rajab) |
23.16 |
24.06 |
+1% |
|
March - April (Sha’ban) |
23.29 |
18.84 |
(19%) |
|
April - May (Ramadan) |
15.19 |
17.13 |
+13% |
|
May - June (Shawwal) |
11.69 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
17.29 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
11.82 |
-- |
-- |
|
Total |
197.36 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
The residential real estate deals rose 1% year-over-year (YoY) to SAR 9.66 billion. The value of commercial deals increased by 47% YoY to SAR 6.27 billion, while the agricultural and industrial deals were valued at nearly SAR 1.20 billion last month.
The residential deals represented 56% of total real estate transactions last month, while commercial sales accounted for 37%, and agricultural and industrial contracts for 7%.
|
Real Estate 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 |
8.97 |
+ 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 |
5.59 |
+ 64% |
|
Jan. - Feb. (Jumada Al Thani) |
12.70 |
12.79 |
+ 1% |
4.82 |
7.98 |
+ 66% |
|
Feb. - March (Rajab) |
14.49 |
15.21 |
+ 1% |
5.84 |
6.90 |
+18% |
|
March - April (Sha’ban) |
15.88 |
11.55 |
(27%) |
5.48 |
5.51 |
+1% |
|
April - May (Ramadan) |
9.59 |
9.66 |
+ 1% |
4.27 |
6.27 |
+47% |
|
May - June (Shawwal) |
7.14 |
-- |
-- |
3.48 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
10.63 |
-- |
-- |
5.54 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
6.56 |
-- |
-- |
4.20 |
-- |
-- |
|
Total |
125.22 |
-- |
-- |
56.23 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
Land sale transactions accounted for nearly 90.2%, or SAR 15.5 billion, of total realty deals in April-May 2022, followed by apartment sales with a value of SAR 884.6 million.
The below table shows real estate transactions by type in April-May 2022:
|
Real Estate Transactions by Type (SAR mln) |
||
|
Type |
Transaction Value |
Percentage to Total |
|
Land Plot |
15,457.3 |
90.2 % |
|
Apartment |
884.6 |
5.2 % |
|
Agricultural Land |
622.1 |
3.6 % |
|
Utility |
72.3 |
0.4 % |
|
Shopping Mall |
45.0 |
0.3 % |
|
House |
21.8 |
0.1 % |
|
Villa |
16.2 |
0.1 % |
|
Showroom/Shop |
6.2 |
0.04 % |
|
Building |
2.5 |
0.01 % |
|
Chalet |
1.0 |
0.01 % |
|
Total |
17,129.0 |
100.0 % |
Land space fell 66% to 80.9 million square meters (sqm), compared with 241 million sqm in the same period the year before.
|
Total Area of Real Estate Transactions (mln sqm) |
|||
|
Month |
2020/2021 (1442) |
2021/2022 (1443) |
Change |
|
Aug. - Sept. (Muharram) |
172.29 |
410.65 |
+138% |
|
Sept. - Oct. (Safar) |
128.20 |
403.09 |
+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 |
122.26 |
(46%) |
|
Feb. - March (Rajab) |
245.87 |
129.52 |
(47%) |
|
March - April (Sha’ban) |
343.81 |
116.07 |
(66%) |
|
April - May (Ramadan) |
241.00 |
80.92 |
(66%) |
|
May - June (Shawwal) |
275.72 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
374.00 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
254.27 |
-- |
-- |
|
Total |
2,824.01 |
-- |
-- |
*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 6.62 billion. Jeddah took second place, with transactions worth SAR 3.73 billion in April- May 2022.
|
Real Estate Transactions in Major Cities (SAR bln) |
|||
|
City |
Residential |
Commercial |
Total |
|
Riyadh |
3,646.2 |
2,970.3 |
6,616.5 |
|
Jeddah |
2,193.5 |
1,541.0 |
3,734.5 |
|
Dammam |
704.1 |
466.2 |
1,170.3 |
|
Makkah |
584.3 |
139.4 |
723.7 |
|
Madinah |
366.8 |
145.5 |
512.3 |
|
Al Khobar |
356.1 |
147.4 |
503.5 |
|
Buraidah |
238.0 |
129.8 |
367.8 |
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