Saudi Arabia's annual real estate deals rise 12% to SAR 221.5 bln, hit 6-year high

Riyadh city

The value of Saudi Arabia's real estate transactions increased 12%, or SAR 24.3 billion, year-on-year (YoY) to SAR 221.5 billion over the year starting from Aug. 9, 2021 (1443 Hijri year), Ministry of Justice data showed.

The value of real estate deals hit the highest level in six years, or since 2015/2016 (1437 Hijri year), when it reached SAR 281.1 billion.

The number of the real estate transactions over the 12-month period stood at around 250,200, while the total real estate units sold was 260,700.

*Real Estate Transactions Since Hijri-1430 (SAR bln)**
Year	Value	Change (Value)	Change (%)
1430 (2007/2008)	83.08	--	--
1431 (2009/2008)	127.61	+44.53	+54%
1432 (2010/2011)	167.00	+39.39	+31%
1433 (2011/2012)	203.62	+36.62	+22%
1434 (2012/2013)	374.95	+171.33	+84%
1435 (2013/2014)	428.03	+53.08	+14%
1436 (2014/2015)	358.72	(69.31)	(16%)
1437 (2015/2016)	281.10	(77.62)	(22%)
1438 (2016/2017)	199.74	(81.36)	(29%)
1439 (2017/2018)	169.09	(30.65)	(15%)
1440 (2018/2019)	161.49	(7.60)	(4%)
1441 (2019/2020)	163.61	+2.12	+1%
1442 (2020/2021)	197.17	+33.56	+21%
1443 (2021/2022)	221.46	+24.29	+12%

*Updated Data.

Real estate transactions increased over a nine-month period, recording a hike of 37% in Dhul Qa’dah and 35% in Jumada Al Awwal.

Meanwhile, the value of the real estate deals declined over the remaining three months, with a drop of 19% in Sha’ban.

Total Value of Real Estate Market Transactions (SAR bln)
Month*	2020/2021 (1442)	2021/2022 (1443)	Change
Muharram	13.15	15.54	+18%
Safar	11.74	14.58	+24%
Rabi Al Awwal	18.15	18.10	(0.3%)
Rabi Al Thani	18.69	18.02	(4%)
Jumada Al Awwal	14.42	19.43	+35%
Jumada Al Thani	18.72	22.25	+19%
Rajab	23.12	24.05	+4%
Sha’ban	23.28	18.83	(19%)
Ramadan	15.17	17.12	+13%
Shawwal	11.65	14.74	+27%
Dhul Qa’dah	17.27	23.69	+37%
Dhul Hijjah	11.81	15.11	+28%
Total	197.17	221.46	+12%

*Updated data

Land sale deals represented nearly 87.8%, or SAR 194.35 billion, of total real estate deals over the 12-month period.

Real Estate Market Property by Type (SAR bln)
Property Type	Total	Percentage to total (%)
Plot of land	194.35	87.8%
Apartment	14.19	6.4%
Agricultural land	9.64	4.4%
Utility	1.78	0.8%
Villa	0.56	0.3%
House	0.36	0.2%
Shopping mall	0.35	0.2%
Showroom/shop	0.14	0.1%
Building	0.05	0.02%
Chalet	0.02	0.01%
Palace	0.02	0.01%
Total	221.46	100.0%

Land space grew 7% YoY to 2.91 billion square meters last year.

Real Estate Market Properties Areas (SQM)
Month	2020/2021 (1442)	2021/2022 (1443)	Variation
Muharram	172.27	410.64	+138%
Safar	128.17	402.89	+214%
Rabi Al Awwal	208.79	446.19	+114%
Rabi Al Thani	217.30	511.85	+136%
Jumada Al Awwal	136.52	358.09	+162%
Jumada Al Thani	225.35	121.75	(46%)
Rajab	245.04	129.45	(47%)
Sha’ban	343.35	115.46	(66%)
Ramadan	240.17	80.91	(66%)
Shawwal	275.76	88.75	(68%)
Dhul Qa’dah	272.53	131.27	(52%)
Dhul Hijjah	254.01	110.51	(56%)
Total	2818.25	2907.77	+7%

Riyadh saw the largest number of real estate deals at SAR 91 billion. It was followed by Jeddah with SAR 37.1 billion worth of deals.

Real Estate Transactions in Major Cities (SAR bln)
City	Residential	Commercial	Total
Riyadh	53.2	37.8	91.0
Jeddah	25.2	11.9	37.1
Makkah	8.4	6.7	15.1
Dammam	6.6	2.9	9.5
Madinah	5.1	1.5	6.6
Al Khobar	4.8	1.3	6.1

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