Saudi banks provided SAR 8.72 billion worth of new retail housing loans in October, up 185% year-on-year (YoY), data issued by the Saudi Arabian Monetary Authority (SAMA) showed.
When compared to September, housing loans jumped by around SAR 2.07 billion.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period |
2018 |
2019 |
Variation |
|
January |
1,643 |
4,431 |
+170 % |
|
February |
1,908 |
4,224 |
+121 % |
|
March |
2,416 |
5,199 |
+115 % |
|
April |
2,479 |
6,035 |
+143 % |
|
May |
2,252 |
5,187 |
+130 % |
|
June |
959 |
4,051 |
+322 % |
|
July |
2,267 |
6,678 |
+195 % |
|
August |
1,510 |
4,903 |
+225 % |
|
September |
1,873 |
6,642 |
+255 % |
|
October |
3,054 |
8,716 |
+185 % |
|
November |
3,287 |
-- |
-- |
|
December |
3,366 |
-- |
-- |
*Does not include interest
Villa mortgages accounted for 81%, or SAR 7.7 billion, of the total housing loans given in October.
Apartments and land plots followed at SAR 1.03 billion and SAR 613 million, respectively.
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2018 |
1,286 |
229 |
128 |
|
February |
1,451 |
298 |
159 |
|
March |
1,906 |
335 |
175 |
|
April |
2,016 |
286 |
176 |
|
May |
1,864 |
225 |
164 |
|
June |
791 |
104 |
64 |
|
July |
1,921 |
189 |
157 |
|
August |
1,251 |
144 |
115 |
|
September |
1,532 |
192 |
149 |
|
October |
2,511 |
324 |
219 |
|
November |
2,677 |
360 |
250 |
|
December |
2,788 |
355 |
224 |
|
January 2019 |
3,520 |
562 |
349 |
|
February |
3,436 |
466 |
322 |
|
March |
4,218 |
549 |
432 |
|
April |
4,910 |
636 |
489 |
|
May |
4,223 |
610 |
354 |
|
June |
3,208 |
524 |
319 |
|
July |
5,279 |
830 |
569 |
|
August |
3,928 |
605 |
370 |
|
Septembre |
5,417 |
736 |
489 |
|
October |
7,070 |
1,033 |
613 |
*Does not include interest
The total of 20,894 contracts were signed between banks and individuals during October, a 267% YoY increase.
|
The Number New Retail Housing Loans Contracts by Bank (SAR mln)* |
|||
|
Period |
2018 |
2019 |
Variation |
|
January |
2,553 |
9,062 |
+255% |
|
February |
2,959 |
9,049 |
+206% |
|
March |
3,716 |
11,506 |
+210% |
|
April |
3,894 |
13,712 |
+252% |
|
May |
3,707 |
12,071 |
+226% |
|
June |
1,675 |
9,122 |
+445% |
|
July |
4,031 |
15,025 |
+273% |
|
August |
2,742 |
11,747 |
+328% |
|
September |
3,490 |
16,016 |
+359% |
|
October |
5,695 |
20,894 |
+267% |
|
November |
6,307 |
-- |
-- |
|
December |
6,116 |
-- |
-- |
*Does not include interest
In October, financing firms provided new mortgages for residential units worth SAR 561 million, a 59% 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 New Retail Housing Loans Contracts by Financing Companies (SAR mln)* |
|||
|
Period |
2018 |
2019 |
Variation |
|
January |
90 |
335 |
+272% |
|
February |
171 |
397 |
+132% |
|
March |
178 |
361 |
+103% |
|
April |
256 |
384 |
+50% |
|
May |
287 |
466 |
+62% |
|
June |
107 |
311 |
+191% |
|
July |
225 |
522 |
+132% |
|
August |
136 |
332 |
+144% |
|
September |
171 |
483 |
+182% |
|
October |
352 |
561 |
+59% |
|
November |
276 |
-- |
-- |
|
December |
240 |
-- |
-- |
*Does not include interest
Comments
{{DisplayName}}
{{ElapsedTime}}