Saudi Arabia's annual real estate deals rise 12% to SAR 221.5 bln, hit 6-year high

17/08/2022 Argaam Special
Riyadh city

Riyadh city


The value of Saudi Arabia's real estate transactions increased 12%, or SAR 24.3 billion, year-on-year (YoY) to SAR 221.5 billion over the year starting from Aug. 9, 2021 (1443 Hijri year), Ministry of Justice data showed.

 

The value of real estate deals hit the highest level in six years, or since 2015/2016 (1437 Hijri year), when it reached SAR 281.1 billion.

 

The number of the real estate transactions over the 12-month period stood at around 250,200, while the total real estate units sold was 260,700.

 

Real Estate Transactions Since Hijri-1430* (SAR bln)

Year

Value

Change (Value)

Change (%)

1430 (2007/2008)

83.08

--

--

1431 (2009/2008)

127.61

+44.53

+54%

1432 (2010/2011)

167.00

+39.39

+31%

1433 (2011/2012)

203.62

+36.62

+22%

1434 (2012/2013)

374.95

+171.33

+84%

1435 (2013/2014)

428.03

+53.08

+14%

1436 (2014/2015)

358.72

(69.31)

(16%)

1437 (2015/2016)

281.10

(77.62)

(22%)

1438 (2016/2017)

199.74

(81.36)

(29%)

1439 (2017/2018)

169.09

(30.65)

(15%)

1440 (2018/2019)

161.49

(7.60)

(4%)

1441 (2019/2020)

163.61

+2.12

+1%

1442 (2020/2021)

197.17

+33.56

+21%

1443 (2021/2022)

221.46

+24.29

+12%

*Updated Data.

 

 

Real estate transactions increased over a nine-month period, recording a hike of 37% in Dhul Qa’dah and 35% in Jumada Al Awwal.

 

Meanwhile, the value of the real estate deals declined over the remaining three months, with a drop of 19% in Sha’ban.

 

Total Value of Real Estate Market Transactions (SAR bln)

Month*

2020/2021

(1442)

2021/2022

(1443)

Change

Muharram

13.15

15.54

+18%

Safar

11.74

14.58

+24%

Rabi Al Awwal

18.15

18.10

(0.3%)

Rabi Al Thani

18.69

18.02

(4%)

Jumada Al Awwal

14.42

19.43

+35%

Jumada Al Thani

18.72

22.25

+19%

Rajab

23.12

24.05

+4%

Sha’ban

23.28

18.83

(19%)

Ramadan

15.17

17.12

+13%

Shawwal

11.65

14.74

+27%

Dhul Qa’dah

17.27

23.69

+37%

Dhul Hijjah

11.81

15.11

+28%

Total

197.17

221.46

+12%

*Updated data

 

Land sale deals represented nearly 87.8%, or SAR 194.35 billion, of total real estate deals over the 12-month period.

 

Real Estate Market Property by Type (SAR bln)

Property Type

Total

Percentage to total (%)

Plot of land

194.35

87.8%

Apartment

14.19

6.4%

Agricultural land

9.64

4.4%

Utility

1.78

0.8%

Villa

0.56

0.3%

House

0.36

0.2%

Shopping mall

0.35

0.2%

Showroom/shop

0.14

0.1%

Building

0.05

0.02%

Chalet

0.02

0.01%

Palace

0.02

0.01%

Total

221.46

100.0%

 
 

Land space grew 7% YoY to 2.91 billion square meters last year.

 

Real Estate Market Properties Areas (SQM)

Month

2020/2021

(1442)

2021/2022

(1443)

Variation

Muharram

172.27

410.64

+138%

Safar

128.17

402.89

+214%

Rabi Al Awwal

208.79

446.19

+114%

Rabi Al Thani

217.30

511.85

+136%

Jumada Al Awwal

136.52

358.09

+162%

Jumada Al Thani

225.35

121.75

(46%)

Rajab

245.04

129.45

(47%)

Sha’ban

343.35

115.46

(66%)

Ramadan

240.17

80.91

(66%)

Shawwal

275.76

88.75

(68%)

Dhul Qa’dah

272.53

131.27

(52%)

Dhul Hijjah

254.01

110.51

(56%)

Total

2818.25

2907.77

+7%

 

Riyadh saw the largest number of real estate deals at SAR 91 billion. It was followed by Jeddah with SAR 37.1 billion worth of deals.

 

Real Estate Transactions in Major Cities (SAR bln)

City

Residential

Commercial

Total

Riyadh

53.2

37.8

91.0

Jeddah

25.2

11.9

37.1

Makkah

8.4

6.7

15.1

Dammam

6.6

2.9

9.5

Madinah

5.1

1.5

6.6

Al Khobar

4.8

1.3

6.1

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