Residential real estate finance for individuals falls 23% to SAR 7.19 bln in July: SAMA

Saudi Arabian banknotes

Residential real estate finance provided for individuals by banks in Saudi Arabia fell by 23% year-on-year (YoY) to SAR 7.19 billion in July, data issued by the Saudi Central Bank (SAMA) showed.

This is the lowest in about three years, since September 2019, when it amounted to about SAR 7.03 billion.

Compared to June 2022, residential real estate finance dropped by nearly SAR 5.93 billion, or 45%.

New Retail Residential Real Estate Finance (SAR mln)*
Month	2021	2022	Change
January	16829	12151	(28%)
February	14181	8784	(38%)
March	18040	15276	(15%)
April	15595	9219	(41%)
May	8906	8810	(1%)
June	8322	13122	+58%
July	9381	7189	(23%)
August	12736	--	--
September	12036	--	--
October	12139	--	--
November	11773	--	--
December	12602	--	--

*Doesn’t include interest.

Villa mortgages accounted for 75%, or SAR 5.39 billion, of total housing loans provided in July. Apartments and land plots followed with SAR 1.51 billion and SAR 283 million, respectively.

New Real Estate Finance by Product Type (SAR mln)*
Period	Villas	Apartments	Land
January 2021	9706	2859	4263
February	8602	2411	3169
March	10624	3046	4370
April	8736	2855	4004
May	5296	1595	2016
June	3996	1689	2637
July	5018	1866	2498
August	7899	2716	2121
September	7717	2634	1685
October	9491	2272	376
November	9082	2276	415
December	10025	2183	394
January 2022	9403	2106	642
February	6818	1498	468
March	9224	2956	3096
April	5902	1707	1610
May	6785	1605	420
June	9415	3167	540
July	5392	1514	283

*Doesn’t include interest.

According to SAMA, 9,050 contracts were signed between banks and retail clients in July, a decline of 29% YoY.

Number of New Real Estate Finance Contracts by Banks*
Month	2021	2022	Change
January	23298	16442	(29%)
February	18989	11615	(39%)
March	23380	18999	(19%)
April	19889	11255	(43%)
May	11495	10943	(5%)
June	11309	16487	+46%
July	12809	9047	(29%)
August	17143	--	--
September	15453	--	--
October	16223	--	--
November	15406	--	--
December	16087	--	--

*Doesn’t include interest

Financing firms provided new real estate finance worth SAR 167 million in July, a decline of 13% YoY.

Number of New Real Residential Estate Finance Contracts by Financing Firms (SAR mln)
Month	2021	2022	Change
January	391	264	(32%)
February	382	221	(42%)
March	515	304	(41%)
April	343	211	(38%)
May	254	148	(42%)
June	193	351	+82%
July	191	167	(13%)
August	337	--	--
September	350	--	--
October	287	--	--
November	264	--	--
December	260	--	--

*Doesn’t include interest

Details and Historical Data of Banks' Key Indicators

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