Mortgage loans provided to retail clients by banks in Saudi Arabia increased by 255% year-on-year (YoY) to SAR 6.64 billion in September 2019, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.
When compared to the previous month, mortgage loans rose by around SAR 1.74 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 |
4,051 |
+322% |
July |
2,267 |
6,678 |
+195% |
August |
1,510 |
4,903 |
+225% |
September |
1,873 |
6,642 |
+255% |
October |
3,054 |
-- |
|
November |
3,287 |
-- |
|
December |
3,366 |
-- |
*Does not include interest
Villa mortgages accounted for 82 percent, or SAR 5.42 billion of total housing loans provided in September.
Apartments and land plots followed with SAR 736 million and SAR 489 million, respectively.
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 |
June |
3,208 |
524 |
319 |
July |
5,279 |
830 |
569 |
August |
3,928 |
605 |
370 |
September |
5,417 |
736 |
489 |
*Doesn’t include interest
A total of 16,016 contracts were signed between banks and retail clients in September 2019, a rise of 359 percent YoY.
The Number New Retail Housing Loans Contracts by Bank (SAR mln)* |
|||
Period |
2018 |
2019 |
Variation |
January |
2,553 |
9062 |
+255% |
February |
2959 |
9049 |
+206% |
March |
3716 |
11506 |
+210% |
April |
3894 |
13712 |
+252% |
May |
3707 |
12071 |
+226% |
June |
1675 |
9122 |
+445% |
July |
4031 |
15025 |
+273% |
August |
2742 |
11747 |
+328% |
September |
3490 |
16016 |
+359% |
October |
5695 |
-- |
-- |
November |
6307 |
-- |
-- |
December |
6116 |
-- |
-- |
*Does not include interest
Financing firms provided new mortgages for residential units worth SAR 483 million in September, a 182 percent YoY increase.
The Number New Retail Housing Loans Contracts by Financing Company (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 |
311 |
+191% |
July |
225 |
522 |
+132% |
August |
136 |
332 |
+144% |
September |
171 |
483 |
+182% |
October |
352 |
-- |
-- |
November |
276 |
-- |
-- |
December |
240 |
-- |
-- |
*Does not include interest
SAMA issued new directives in May 2018 requesting all banks and mortgage companies to provide mortgages to individuals, as per the due regulations.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}