Residential real estate finance for individuals down 41% to SAR 9.22 bln in April: SAMA

07/06/2022 Argaam Special
SAR 500 currency notes

SAR 500 currency notes


Residential real estate finance provided for individuals by banks in Saudi Arabia declined 41% year-on-year (YoY) to SAR 9.22 billion in April, data issued by the Saudi Central Bank (SAMA) showed.

 

When compared to March, mortgage loans fell by nearly SAR 6.06 billion.

 

The below table shows the development of the new housing loans for individuals:

 

New Retail Housing Loans (SAR mln)*

Month

2021

2022

Change (%)

January

16,829

12,151

(28%)

February

14,181

8,784

(38%)

March

18,040

15,276

(15%)

April

15,595

9,219

(41%)

May

8,906

--

--

June

8,322

--

--

July

9,381

--

--

August

12,736

--

--

September

12,036

--

--

October

12,139

--

--

November

11,773

--

--

December

12,602

--

--

*Does not include interest

 

 

Villa mortgages came on top, accounting for 64%, or SAR 5.9 billion, of total housing loans provided in April.

 

Apartments and Land plots followed with SAR 1.71 billion and SAR 1.61 billion, respectively.

 

New Retail Housing Loans 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

March

9224

2956

3096

April

5902

1707

1610

*Does not include interest

 

A total of 11,300 contracts, a decline of 43% YoY, were signed between banks and individuals in April.

 

New Retail Housing Loans Contracts by Banks*

Period

2021

2022

Change

January

23298

16442

(29%)

February

18989

11615

(39%)

March

23380

18999

(19%)

April

19889

11255

(43%)

May

11495

--

--

June

11309

--

--

July

12809

--

--

August

17143

--

--

September

15453

--

--

October

16223

--

--

November

15406

--

--

December

16087

--

--

*Does not include interest

 

Financing firms provided new loans worth nearly SAR 211 million for residential units in April, a drop of 39% YoY.

 

Volume of New Retail Housing Loans Contracts by Financing Companies (SAR mln)*

Period

2021

2022

Change

January

391

264

(33%)

February

382

221

(42%)

March

515

304

(41%)

April

343

211

(39%)

May

254

--

--

June

193

--

--

July

191

--

--

August

337

--

--

September

350

--

--

October

287

--

--

November

264

--

--

December

260

--

--

*Does not include interest

 

 

Details and Historical Data of Banks' Key Indicators

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