The value of real estate transactions concluded in Saudi Arabia declined by 39 percent in the month ending May 17 (Shaaban) to SAR 11.63 billion, compared to the same period of last year, data from the Saudi Justice Ministry showed.

 

The data showed that, for the last nine months (from the beginning of Hijri year on Sept. 22), the value of property deals decreased by eight percent to SAR 138 billion (YoY).

 

Total Value of Real Estate Transactions (SAR bln)

Month

2016/2017

(1438)

2017/2018

(1439)

Variation

Sept.-Oct. (Muharram)

20.9

14.8

(29%)

Oct.- Nov. (Safar)

16.5

17.4

+5%

Nov.- Dec. (Rabi Al Awwal)

22.1

23.6

+7%

Dec. –Jan. (Rabi Al Thani)

17.2

34.3

+99%

Jan. -Feb. (Jumada Al Awwal)

16.7

12.5

(25%)

Feb.- March (Jumada Al Thani)

19.6

12.1

(38%)

March- April (Rajab)

17.8

11.6

(34%)

April- May (Sha’ban)

18.9

11.6

(39%)

May- June (Ramadan)

12.6

--

--

June- July (Shawwal)

11.6

--

--

July- Aug. (Dhul Qa’dah)

21.5

--

--

Aug.- Sept. (Dhul Hijjah)

7.7

--

--

Total

203.2

--

--

 

In Shaaban, residential deals retreated by 36 percent YoY to SAR 8.8 billion. While commercial transactions fell by 45 percent to SAR 2.8 billion compared to the same period of last year.

 

Real Estate Transactions by Segment (SAR bln)

 

Residential

Commercial

Month

2016/2017

(1438)

2017/2018

(1439)

Variation

2016/2017

(1438)

2017/2018

(1439)

Variation

Sept.-Oct. (Muharram)

11.3

10.5

(7%)

9.6

4.3

(55%)

Oct.- Nov. (Safar)

11.2

12.9

+15%

5.3

4.5

(15%)

Nov.- Dec. (Rabi Al Awwal)

12.8

16.0

+25%

9.4

7.6

(19%)

Dec. –Jan. (Rabi Al Thani)

11.3

18.6

+65%

5.9

15.8

+168%

Jan. -Feb. (Jumada Al Awwal)

11.1

8.7

(22%)

5.6

3.8

(32%)

Feb.- March (Jumada Al Thani)

12.6

9.2

(27%)

7.0

2.9

(59%)

March- April (Rajab)

12.3

9.3

(24%)

5.5

2.3

(58%)

April- May (Sha’ban)

13.8

8.8

(36%)

5.2

2.8

(45%)

May- June (Ramadan)

8.8

--

--

3.8

--

--

June- July (Shawwal)

6.6

--

--

5.0

--

--

July- Aug. (Dhul Qa’dah

12.5

--

--

9.0

--

--

Aug.- Sept. (Dhul Hijjah)

5.2

--

--

2.5

--

--

Total

129.6

--

--

73.7

--

--

 

Land sale transactions accounted for 89 percent of total deals at SAR 10.32 billion, while apartment sales amounted to SAR 588.7 million.

 

Transactions by real estate category

(SAR mln)

 

Residential

Commercial

Type

2017

(1438)

2018

(1439)

Variation

2017

(1438)

2018

(1439)

Variation

Plot of land

12,304.3

7,738.4

(37%)

4,946.2

2,581.9

(48%)

Apartment

828.7

571.5

(31%)

33.8

17.2

(49%)

Agricultural land

302.9

209.6

(31%)

143.5

114.5

(20%)

Villa

128.3

95.0

(26%)

5.6

6.7

+20%

Show room/shop

116.4

99.6

(14%)

10.3

1.5

(85%)

Shopping mall

1.4

1.0

(29%)

1.7

86.9

+5,012%

House

59.7

58.9

(1%)

5.9

3.0

(49%)

Utility

11.9

37.4

+214%

--

--

--

Building

20.6

5.9

(71%)

5.8

--

--

Chalet

1.2

3.8

+217%

0.7

--

--

Total

13,775.2

8,821.2

(36%)

5,153.5

2,811.8

(45%)

 

Riyadh saw the largest number of residential real estate deals at SAR 3.08 billion— 23 percent lower than the same month of last year.

 

Jeddah came second with SAR 1.21 billion worth of deals, a 53 percent drop YoY.

 

Riyadh also took the lead in commercial deals with SAR 1.11 billion, edging down 44 percent YoY.

 

Real estate transactions by city

(SAR bln)

 

Residential

Commercial

City

2017

(1438)

2018

(1439)

Variation

2017

(1438)

2018

(1439)

Variation

Riyadh

3.98

3.08

(23%)

1.98

1.11

(44%)

Jeddah

2.55

1.21

(53%)

0.79

0.36

(54%)

Mecca

1.34

0.58

(57%)

0.24

0.08

(67%)

Medina

1.16

0.31

(73%)

0.43

0.33

(23%)

Dammam

0.78

0.43

(45%)

0.32

0.17

(47%)

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