The value of real estate transactions in Saudi Arabia in the year ending Sept. 11 (Hijri year 1439) dropped 15 percent year-on-year (YoY), or SAR 31.1 billion to SAR 172.01 billion, Saudi Justice Ministry's data showed.

 

The real estate deals extended their downtrend for the fourth consecutive year.

 

Annual Value of Real Estate Market Transactions (SAR bln)

Year

Value

Variation value

Variation

1430  (2008/2009)

82.5

--

--

1431  (2009/2010)

125.9

+ 43.4

+53%

1432  (2010/2011)

168.3

+ 42.4

+34%

1433  (2011/2012)

199.9

+ 31.6

+19%

1434  (2012/2013)

375.8

+ 175.9

+88%

1435  (2013/2014)

431.9

+ 56.1

+15%

1436  (2014/2015)

358.1

(73.8)

(17%)

1437  (2015/2016)

278.7

(79.4)

(22%)

1438  (2016/2017)

203.1

(75.6)

(27%)

1439 (2017/2018)

172.0

(31.1)

(15%)

 

Property transactions fell in nine months, with the month ending August 12 (Dhul Qa’dah) witnessing the steepest decline at 51 percent. It was followed by the month ending May 16 (Sha’ban), which reported the second biggest decline at 39 percent.

 

On a quarterly basis, real estate transactions increased the most at 99 percent in the month ending January 17 (Rabi Al-Thani).

 

Total Value of Real Estate Market 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

10.2

(19%)

June- July (Shawwal)

11.6

7.8

(33%)

July- Aug. (Dhul Qa’dah)

21.5

10.5

(51%)

Aug.- Sept. (Dhul Hijjah)

7.7

5.2

(32%)

Total

203.1

172.1

(15%)

 

Last year, a total of SAR 117.8 billion worth of residential transactions were executed, along with commercial sale deals worth SAR 54.21 billion.

 

Land sale transactions accounted for 88 percent of total real estate deals at SAR 150.94 billion, followed by apartment sales with a value of SAR 8.99 billion.

 

Total Value of Real Estate Market Transactions By Type (1339) (SAR bln)

Type

Residential

Commercial

Total

Plot of land

101.27

49.67

150.94

Appartement

8.71

0.29

8.99

Agricultural land

4.54

1.45

5.99

Villa

0.94

0.06

1.00

Showroom/shop

1.01

0.08

1.09

Building

0.12

0.07

0.19

Utility

0.39

1.93

2.32

House

0.73

0.03

0.76

Shopping mall

0.04

0.55

0.59

Palace

0.01

0.08

0.10

Chalet

0.05

0.002

0.05

Total

117.80

54.21

172.01

 

Riyadh saw the largest number of real estate deals at SAR 61.96 billion. It was followed by Jeddah with SAR 23.81 billion worth of deals.

 

Real Estate Transactions in Major Cities in 1339 (SAR bln)

City

Residential

Commercial

Total

Riyadh

36.94

25.02

61.96

Jeddah

16.01

7.80

23.81

Mecca

14.24

1.41

15.65

Dammam

6.47

4.16

10.63

Medina

6.86

2.91

9.77

Al Khobar

5.47

4.15

9.62

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