Saudi Arabia's annual real estate deals rise 20% to SAR 197.2 bln, hit 4-year high

25/08/2021 Argaam Special

 

Riyadh city


The value of Saudi Arabia's real estate transactions increased 20%, or SAR 33.4 billion, year-on-year (YoY) to SAR 197.21 billion over the year starting from Aug. 20, 2020 (1442 Hijri year), Saudi Justice Ministry's data showed. 

 

It recorded its highest level in four years, or since 2016/2017 (1438 Hijri year), when it reached SAR 198.9 billion. 

 

The number of the real estate transactions over the 12-month period stood at around 314,300, while the total real estate units sold was 327,500. 

 

Total Value of Real Estate Transactions Since 1430* (SAR bln)

Year

Value

Variation (Value)

Variation (%)

1430 (2007/2008)

80.17

--

--

1431 (2009/2008)

122.52

+ 42.36

+ 53 %

1432 (2010/2011)

162.34

+ 39.82

+ 32 %

1433 (2011/2012)

199.16

+ 36.82

+ 23 %

1434 (2012/2013)

371.27

+ 172.11

+ 86 %

1435 (2013/2014)

427.27

+ 55.99

+ 15 %

1436 (2014/2015)

356.98

(70.29)

(16%)

1437 (2015/2016)

279.62

(77.36)

(22%)

1438 (2016/2017)

198.93

(80.69)

(29%)

1439 (2017/2018)

168.36

(30.57)

(15%)

1440 (2018/2019)

161.33

(7.03)

(4%)

1441 (2019/2020)

163.80

+ 2.47

+ 2 %

1442 (2020/2021)

197.21

+ 33.41

+ 20 %

*Updated Data.

 

Real estate transactions increased over a seven-month period, recording a hike of 504% in Sha’aban and 167% in Ramadan.

 

Meanwhile, the value of the real estate deals declined over the remaining five months, with a drop of 34% in Dhul Qa’dah.

 

Total Value of Real Estate Market Transactions (SAR bln)

Month

2019/2020

(1441)

2020/2021

(1442)

Variation

Aug. - Sept. (Muharram)

16.61

13.09

(21%)

Sept. - Oct. (Safar)

15.63

11.74

(25%)

Oct. - Nov. (Rabi Al Awwal)

14.87

18.10

+ 22 %

Nov. - Dec. (Rabi Al Thani)

14.31

18.65

+ 30 %

Dec. - Jan. (Jumada Al Awwal)

13.34

14.43

+ 8 %

Jan. - Feb. (Jumada Al Thani)

19.49

18.74

(4%)

Feb. – March (Rajab)

13.77

23.12

+ 68 %

March – April (Sha’ban)

3.86

23.27

+ 504 %

April – May (Ramadan)

5.63

15.06

+ 167 %

May – June (Shawwal)

13.97

11.72

(16%)

June - July (Dhul Qa’dah)

26.49

17.41

(34%)

July - Aug. (Dhul Hijjah)

5.84

11.86

+ 103 %

Total

163.80

197.21

+ 20 %

 

The value of the residential deals stood at SAR 125.02 billion, while the value of the commercial deals reached SAR 55.89 billion. The agricultural and industrial deals were valued at nearly SAR 16.3 billion over the last 12 months.

 

Land sale deals represented nearly 88.6%, or SAR 174.8 billion, of total real estate deals over the 12-month period.

 

Real Estate Market Property by Type (SAR bln)

Property Type

Residential

Commercial

Agricultural & Industrial

Total

Percentage to total (%)

Plot of land

116.23

53.16

5.38

174.77

88.6 %

Agricultural land

1.84

0.03

10.85

12.72

6.5 %

Apartment

4.12

1.86

0.06

6.04

3.1 %

Showroom/shop

1.00

0.03

--

1.04

0.5 %

Villa

0.92

0.04

--

0.96

0.5 %

Utility

0.27

0.26

--

0.53

0.3 %

House

0.42

0.08

--

0.50

0.3 %

Shopping mall

0.04

0.37

--

0.41

0.2 %

Building

0.15

0.04

--

0.18

0.1 %

Chalet

0.03

0.01

--

0.04

0.02 %

Palace

--

0.01

--

0.01

0.01 %

Total

125.02

55.89

16.30

197.20

100.0 %

 

 

Land space surged 276% YoY to 3.36 million square meters last year, the largest area since the start of issuing this data.

 

Real Estate Market Properties Areas (SQM)

Month

2018/2019

(1440)

2019/2020

(1441)

Variation

Aug. - Sept. (Muharram)

63.16

177.48

+181%

Sept. - Oct. (Safar)

108.07

139.57

+29%

Oct. - Nov. (Rabi Al Awwal)

72.46

216.72

+199%

Nov. - Dec. (Rabi Al Thani)

54.40

222.64

+309%

Dec. - Jan. (Jumada Al Awwal)

77.57

165.24

+113%

Jan. - Feb. (Jumada Al Thani)

118.66

253.48

+114%

Feb. – March (Rajab)

69.84

288.05

+312%

March – April (Sha’ban)

3.42

386.95

+11221%

April – May (Ramadan)

6.22

344.32

+5431%

May – June (Shawwal)

58.41

335.06

+474%

June - July (Dhul Qa’dah)

179.15

516.71

+188%

July - Aug. (Dhul Hijjah)

81.24

311.76

+284%

Total

892.62

3357.98

+276%

 

Riyadh saw the largest number of real estate deals at SAR 80.4 billion. It was followed by Jeddah with SAR 30 billion worth of deals.

 

Real Estate Transactions in Major Cities (SAR bln)

City

Residential

Commercial

Total

Riyadh

50.6

29.7

80.4

Jeddah

20.3

9.4

29.7

Dammam

5.7

3.3

9.0

Makkah

7.3

1.0

8.2

Al Khobar

5.5

2.5

8.0

Al Madinah

5.3

1.4

6.7

 

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.