Saudi Arabian banknotes
Residential real estate finance provided for individuals by banks in Saudi Arabia fell by 23% year-on-year (YoY) to SAR 9.35 billion in October, data issued by the Saudi Central Bank (SAMA) showed.
Compared to September 2022, residential real estate finance retreated by nearly SAR 578 million, or 6%.
|
New Retail Residential Real Estate Finance (SAR mln)* |
|||
|
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 |
7189 |
(23%) |
|
August |
12736 |
12697 |
(0.3%) |
|
September |
12036 |
9930 |
(17%) |
|
October |
12139 |
9352 |
(23%) |
|
November |
11773 |
-- |
-- |
|
December |
12602 |
-- |
-- |
Villa mortgages accounted for 66%, or SAR 6.19 billion, of total housing loans provided in October. Apartments and land plots followed with SAR 2.72 billion and SAR 445 million, respectively.
|
New Real Estate Finance by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
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 |
|
July |
5392 |
1514 |
283 |
|
August |
8607 |
3618 |
472 |
|
September |
6708 |
2825 |
396 |
|
October |
6190 |
2717 |
445 |
According to SAMA, 12,400 contracts were signed between banks and retail clients in September, a decline of 24% 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 |
9047 |
(29%) |
|
August |
17143 |
16255 |
(5%) |
|
September |
15453 |
12902 |
(17%) |
|
October |
16223 |
12397 |
(24%) |
|
November |
15406 |
-- |
-- |
|
December |
16087 |
-- |
-- |
Financing firms provided new real estate finance worth SAR 236 million in October, a decline of 18% YoY.
|
Number of New Real Residential 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 |
167 |
(13%) |
|
August |
337 |
284 |
(16%) |
|
September |
350 |
305 |
(13%) |
|
October |
287 |
236 |
(18%) |
|
November |
264 |
-- |
-- |
|
December |
260 |
-- |
-- |
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