Mortgage loans provided to retail clients by banks in Saudi Arabia more than doubled year-on-year (YoY) to SAR 5.19 billion in in May 2019, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.
On a month-on-month basis, mortgage lending dropped 14 percent from SAR 6.04 billion.
|
New Retail Housing Loans (SAR mln) |
|||
|
Period |
2018 |
2019 |
Variation |
|
January |
1,643 |
4,431 |
+170% |
|
February |
1,908 |
4,224 |
+121% |
|
March |
2,416 |
5,199 |
+115% |
|
April |
2,479 |
6,035 |
+143% |
|
May |
2,252 |
5,187 |
+130% |
|
June |
959 |
-- |
-- |
|
July |
2,267 |
-- |
-- |
|
August |
1,510 |
-- |
-- |
|
September |
1,873 |
-- |
-- |
|
October |
3,054 |
-- |
-- |
|
November |
3,287 |
-- |
-- |
|
December |
3,366 |
-- |
-- |
*Doesn’t include interest
Villa mortgages accounted for 81 percent, or SAR 4.22 billion of total housing loans in the same period. Apartments came second with SAR 610 million, then land plots (SAR 354 million).
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2018 |
1,286 |
229 |
128 |
|
February |
1,451 |
298 |
159 |
|
March |
1,906 |
335 |
175 |
|
April |
2,016 |
286 |
176 |
|
May |
1,864 |
225 |
164 |
|
June |
791 |
104 |
64 |
|
July |
1,921 |
189 |
157 |
|
August |
1,251 |
144 |
115 |
|
September |
1,532 |
192 |
149 |
|
October |
2,511 |
324 |
219 |
|
November |
2,677 |
360 |
250 |
|
December |
2,788 |
355 |
224 |
|
January 2019 |
3,520 |
562 |
349 |
|
February |
3,436 |
466 |
322 |
|
March |
4,218 |
549 |
432 |
|
April |
4,910 |
636 |
489 |
|
May |
4,223 |
610 |
354 |
*Doesn’t include interest
The contracts signed between banks and retail clients more than tripled YoY in May 2019 to 12,071.
|
The Number of New Retail Housing Loans Contracts By Banks (SAR mln)* |
|||
|
Period |
2018 |
2019 |
Variation |
|
January |
2,553 |
2,553 |
+255% |
|
February |
2,959 |
2,959 |
+206% |
|
March |
3,716 |
3,716 |
+210% |
|
April |
3,894 |
3,894 |
+252% |
|
May |
3,707 |
3,707 |
+226% |
|
June |
1,675 |
1,675 |
|
|
July |
4,031 |
4,031 |
|
|
August |
2,742 |
2,742 |
|
|
September |
3,490 |
3,490 |
|
|
October |
5,695 |
5,695 |
|
|
November |
6,307 |
6,307 |
|
|
December |
6,116 |
6,116 |
|
*Doesn’t include interest
Home financiers provided new mortgages for residential units worth SAR 466 million in May, a rise of 62 percent YoY.
SAMA issued new directives in May 2018 obligating all banks and mortgage companies to provide mortgages to individuals, as per the due regulations.
|
The Number of New Retail Housing Loans Contracts by Financing Firms (SAR mln)* |
|||
|
Period |
2018 |
2019 |
Variation |
|
January |
90 |
335 |
+272% |
|
February |
171 |
397 |
+132% |
|
March |
178 |
361 |
+103% |
|
April |
256 |
384 |
+50% |
|
May |
287 |
466 |
+62% |
|
June |
107 |
-- |
-- |
|
July |
225 |
-- |
-- |
|
August |
136 |
-- |
-- |
|
September |
171 |
-- |
-- |
|
October |
352 |
-- |
-- |
|
November |
276 |
-- |
-- |
|
December |
240 |
-- |
-- |
*Doesn’t include interest 
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