Saudi Arabian banknotes
Residential real estate finance provided for individuals by banks in Saudi Arabia declined 38% year-on-year (YoY) to SAR 8.78 billion in February – the lowest since June 2021, data issued by the Saudi Central Bank (SAMA) showed.
When compared to January, residential real estate finance fell by around SAR 3.37 million in February.
|
New Retail Residential Real Estate Loans (SAR mln)* |
|||
|
Period |
2021 |
2022 |
Variation |
|
January |
16829 |
12151 |
(%28) |
|
February |
14181 |
8784 |
(%38) |
|
March |
18040 |
-- |
-- |
|
April |
15595 |
-- |
-- |
|
May |
8906 |
-- |
-- |
|
June |
8322 |
-- |
-- |
|
July |
9381 |
-- |
-- |
|
August |
12736 |
-- |
-- |
|
September |
12036 |
-- |
-- |
|
October |
12139 |
-- |
-- |
|
November |
11773 |
-- |
-- |
|
December |
12602 |
-- |
-- |
*Does not include interest
Villa residential real estate finance came on top, accounting for 78%, or SAR 6.82 billion, of the total residential loans provided in February.
Apartments and land plots followed with SAR 1.5 billion and SAR 468 million, respectively.
|
New Residential 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 |
*Does not include interest
A total of 11,600 contracts were signed between banks and retail clients in the same month, a decline of 39% YoY.
|
New Residential Real Estate Finance Contracts by Banks* |
|||
|
Period |
2021 |
2022 |
Variation |
|
January |
23298 |
16442 |
(%29) |
|
February |
18989 |
11615 |
(39%) |
|
March |
23380 |
-- |
-- |
|
April |
19889 |
-- |
-- |
|
May |
11495 |
-- |
-- |
|
June |
11309 |
-- |
-- |
|
July |
12809 |
-- |
-- |
|
August |
17143 |
-- |
-- |
|
September |
15453 |
-- |
-- |
|
October |
16223 |
-- |
-- |
|
November |
15406 |
-- |
-- |
|
December |
16087 |
-- |
-- |
*Does not include interest
Financing firms provided residential real estate finance worth nearly SAR 221 million for individuals in February, a drop of 42% YoY.
|
Volume of New Residential Real Estate Finance by Financing Companies (SAR mln)* |
|||
|
Period |
2021 |
2022 |
Variation |
|
January |
391 |
264 |
(%32) |
|
February |
382 |
221 |
(%42) |
|
March |
515 |
-- |
-- |
|
April |
343 |
-- |
-- |
|
May |
254 |
-- |
-- |
|
June |
193 |
-- |
-- |
|
July |
191 |
-- |
-- |
|
August |
337 |
-- |
-- |
|
September |
350 |
-- |
-- |
|
October |
287 |
-- |
-- |
|
November |
264 |
-- |
-- |
|
December |
260 |
-- |
-- |
*Does not include interest
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