Saudi Arabian banknotes
Residential real estate finance provided for individuals by banks in Saudi Arabia increased by 58% year-on-year (YoY) to SAR 13.12 billion in June, data issued by the Saudi Central Bank (SAMA) showed.
Compared to May 2022, the residential real estate finance jumped by nearly SAR 4.31 billion, or 49%.
|
New Retail Residential Real Estate Finance (SAR bln)* |
|||
|
Month |
2021 |
2022 |
Change |
|
January |
16829 |
12151 |
(28%) |
|
February |
14181 |
8784 |
(38%) |
|
March |
18040 |
15276 |
(15%) |
|
April |
15595 |
9219 |
(41%) |
|
May |
8906 |
8810 |
(1%) |
|
June |
8322 |
13122 |
+58% |
|
July |
9381 |
-- |
-- |
|
August |
12736 |
-- |
-- |
|
September |
12036 |
-- |
-- |
|
October |
12139 |
-- |
-- |
|
November |
11773 |
-- |
-- |
|
December |
12602 |
-- |
-- |
Villa mortgages accounted for 72%, or SAR 9.42 billion, of total housing loans provided in June. Apartments and land plots followed with SAR 3.17 billion and SAR 540 million, respectively.
|
New 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 |
|
March |
9224 |
2956 |
3096 |
|
April |
5902 |
1707 |
1610 |
|
May |
6785 |
1605 |
420 |
|
June |
9415 |
3167 |
540 |
According to SAMA, a total of 16,500 contracts were signed between banks and retail clients in June, a rise of 46% YoY.
|
Number of New Real Estate Finance Contracts by Banks* |
|||
|
Month |
2021 |
2022 |
Change |
|
January |
23298 |
16442 |
(29%) |
|
February |
18989 |
11615 |
(39%) |
|
March |
23380 |
18999 |
(19%) |
|
April |
19889 |
11255 |
(43%) |
|
May |
11495 |
10943 |
(5%) |
|
June |
11309 |
16487 |
+46% |
|
July |
12809 |
-- |
-- |
|
August |
17143 |
-- |
-- |
|
September |
15453 |
-- |
-- |
|
October |
16223 |
-- |
-- |
|
November |
15406 |
-- |
-- |
|
December |
16087 |
-- |
-- |
Financing firms provided new real estate finance worth SAR 351 million in June, a surge of 82% YoY.
|
Number of New Real Estate Finance Contracts by Financing Firms (SAR mln) |
|||
|
Month |
2021 |
2022 |
Change |
|
January |
391 |
264 |
(32%) |
|
February |
382 |
221 |
(42%) |
|
March |
515 |
304 |
(41%) |
|
April |
343 |
211 |
(38%) |
|
May |
254 |
148 |
(42%) |
|
June |
193 |
351 |
+82% |
|
July |
191 |
-- |
-- |
|
August |
337 |
-- |
-- |
|
September |
350 |
-- |
-- |
|
October |
287 |
-- |
-- |
|
November |
264 |
-- |
-- |
|
December |
260 |
-- |
-- |
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