Mortgage loans provided to retail clients by banks in Saudi Arabia jumped 43 percent year-on-year (YoY) to SAR 27.02 billion in 2018, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.
|
New Retail Housing Loans (SAR bln)* |
||
|
Period |
Value |
Variation |
|
2016 |
14.93 |
-- |
|
2017 |
18.92 |
+27% |
|
2018 |
27.02 |
+43% |
*Doesn’t include interest
In Q4, retail housing loans rose 20 percent YoY to SAR 9.7 billion.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period |
2017 |
2018 |
Variation |
|
Q1 |
3,701 |
5,968 |
+61% |
|
Q2 |
4,687 |
5,690 |
+21% |
|
Q3 |
4,703 |
5,650 |
+20% |
|
Q4 |
5,832 |
9,707 |
+66% |
|
Total |
18,923 |
27,015 |
+43% |
*Doesn’t include interest
Villa mortgages accounted for 81 percent, or SAR 22 billion, of the total housing loans given in 2018.
Apartments and land plots followed at SAR 3.04 billion and SAR 1.98 billion, respectively.
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
Q1 |
4,643 |
862 |
462 |
|
Q2 |
4,671 |
615 |
404 |
|
Q3 |
4,704 |
525 |
421 |
|
Q4 |
7,976 |
1,039 |
693 |
|
Total |
21,995 |
3,041 |
1,980 |
*Doesn’t include interest
The total of 46,900 contracts were signed between banks and individuals during the year, a 65 percent YoY increase.
|
The Number of New Retail Housing Loans Contracts By Banks (SAR mln)* |
|||
|
Period |
2017 |
2018 |
Variation |
|
Q1 |
5,474 |
9,228 |
+69% |
|
Q2 |
6,876 |
9,276 |
+35% |
|
Q3 |
7,196 |
10,263 |
+43% |
|
Q4 |
8,923 |
18,118 |
+103% |
|
Total |
28,469 |
46,885 |
+65% |
In 2018, financing firms provided new mortgages for residential units worth SAR 2.49 billion, an 18 percent YoY rise.
SAMA issued new directives in May obligating all banks and mortgage companies to provide mortgages to individuals, as per the due regulations.
|
The Number of New Retail Housing Loans Contracts by Financing Companies (SAR mln)* |
|||
|
Period |
2017 |
2018 |
Variation |
|
Q1 |
609 |
438 |
(28%) |
|
Q2 |
463 |
650 |
+40% |
|
Q3 |
443 |
532 |
+20% |
|
Q4 |
588 |
868 |
+48% |
|
Total |
2,102 |
2,488 |
+18% |
*Doesn’t include interest 
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