Saudi Arabian banknotes
Residential mortgages provided by banks to individuals increased by 17% year-on-year (YoY) to SAR 6.82 billion in September, data issued by the Saudi Central Bank (SAMA) showed.
Villa mortgages accounted for the largest share of the total bank financing in September, reaching 57%, or SAR 3.88 billion. Apartments and land plots followed with SAR 2.54 billion and SAR 397 million, respectively.
Issued data does not include interest.
According to SAMA, nearly 9,320 contracts were signed between banks and retail clients in September.
Villa mortgages accounted for the largest share of the total bank financing in September, reaching 57%, or SAR 3.88 billion. Apartments and land plots followed with SAR 2.54 billion and SAR 397 million, respectively.
|
New Mortgages by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land Plots |
|
Jan. 2024 |
5132 |
1967 |
440 |
|
February |
4529 |
1980 |
433 |
|
March |
4912 |
2237 |
474 |
|
April |
3681 |
1389 |
270 |
|
May |
5114 |
2153 |
408 |
|
June |
3427 |
1616 |
263 |
|
July |
4380 |
2262 |
429 |
|
August |
3791 |
2446 |
362 |
|
September |
3883 |
2540 |
397 |
The new residential mortgages provided by finance firms for individuals amounted to SAR 202 million in September, a decline of 24% YoY.
|
Number of New Residential Mortgage Contracts by Finance Firms (SAR mln)* |
|||
|
Period |
2023 |
2024 |
Change |
|
January |
310 |
273 |
(12%) |
|
February |
284 |
268 |
(6%) |
|
March |
228 |
225 |
(1%) |
|
April |
167 |
143 |
(14%) |
|
May |
235 |
252 |
+7% |
|
June |
198 |
160 |
(19%) |
|
July |
193 |
193 |
-- |
|
August |
307 |
161 |
(48%) |
|
September |
265 |
202 |
(24%) |
|
October |
289 |
-- |
-- |
|
November |
310 |
-- |
-- |
|
December |
272 |
-- |
-- |
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