Mortgage loans provided to retail clients by banks in Saudi Arabia surged 48% year-on-year (YoY) to SAR 7.66 billion in May 2020, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.
Compared to April 2020, mortgage loans also soared by around SAR 79 million.
|
New Retail Housing Loans (SAR mln) |
|||
|
Period |
2019 |
2020 |
Variation |
|
January |
4431 |
9520 |
+115% |
|
February |
4224 |
10242 |
+142% |
|
March |
5199 |
10717 |
+106% |
|
April |
6035 |
7577 |
+26% |
|
May |
5187 |
7656 |
+48% |
|
June |
4051 |
-- |
-- |
|
July |
6678 |
-- |
-- |
|
August |
4903 |
-- |
-- |
|
September |
6642 |
-- |
-- |
|
October |
8716 |
-- |
-- |
|
November |
8503 |
-- |
-- |
|
December |
9289 |
-- |
-- |
*Doesn’t include interest
Villa mortgages accounted for 80%, or SAR 6.15 billion of total housing loans provided in May.
Apartments and land plots followed with SAR 1.22 billion and SAR 292 million, respectively.
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2019 |
3520 |
562 |
349 |
|
February |
3436 |
466 |
322 |
|
March |
4218 |
549 |
432 |
|
April |
4910 |
636 |
489 |
|
May |
4223 |
610 |
354 |
|
June |
3208 |
524 |
319 |
|
July |
5279 |
830 |
569 |
|
August |
3928 |
605 |
370 |
|
September |
5417 |
736 |
489 |
|
October |
7070 |
1033 |
613 |
|
November |
6750 |
1214 |
539 |
|
December |
7631 |
1093 |
566 |
|
January 2020 |
7709 |
1242 |
569 |
|
February |
8259 |
1363 |
620 |
|
March |
8618 |
1683 |
416 |
|
April |
6262 |
1021 |
294 |
|
May |
6147 |
1217 |
292 |
*Doesn’t include interest
A total of 15,165 contracts were signed between banks and retail clients in May, a rise of 26% YoY.
|
Number of New Retail Housing Loans Contracts by Banks (SAR mln)* |
|||
|
Period |
2019 |
2020 |
Variation |
|
January |
9062 |
22820 |
+152% |
|
February |
9049 |
23961 |
+165% |
|
March |
11506 |
22748 |
+98% |
|
April |
13712 |
17657 |
+29% |
|
May |
12071 |
15165 |
+26% |
|
June |
9122 |
-- |
-- |
|
July |
15025 |
-- |
-- |
|
August |
11747 |
-- |
-- |
|
September |
16016 |
-- |
-- |
|
October |
20894 |
-- |
-- |
|
November |
19657 |
-- |
-- |
|
December |
22414 |
-- |
-- |
*Doesn’t include interest
Financing firms provided new mortgages for residential units worth SAR 201 million in May, a decline of 57% YoY.
SAMA issued new directives in May 2018 obligating all banks and mortgage companies to provide mortgages to individuals, as per the due regulations.
|
Number of New Retail Housing Loans Contracts by Financing Firms (SAR mln)* |
|||
|
Period |
2019 |
2020 |
Variation |
|
January |
335 |
565 |
+69% |
|
February |
397 |
459 |
+15% |
|
March |
361 |
325 |
(10%) |
|
April |
384 |
90 |
(77%) |
|
May |
466 |
201 |
(57%) |
|
June |
311 |
-- |
-- |
|
July |
522 |
-- |
-- |
|
August |
332 |
-- |
-- |
|
September |
483 |
-- |
-- |
|
October |
562 |
-- |
-- |
|
November |
549 |
-- |
-- |
|
December |
569 |
-- |
-- |
*Doesn’t include interest 
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