AI Summary
The mortgage loans provided to retail clients by banks in Saudi Arabia surged 173% year-on-year (YoY) to SAR 73.86 billion by the end of 2019, 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 |
27.01 |
+43% |
|
2019 |
73.86 |
+173% |
*Does not include interest
In Q4 2019, mortgage loans also soared 173% YoY to SAR 26.5 billion.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period |
2018 |
2019 |
Variation |
|
Q1 |
5,968 |
13,854 |
+132% |
|
Q2 |
5,690 |
15,273 |
+168% |
|
Q3 |
5,650 |
18,223 |
+223% |
|
Q4 |
9,707 |
26,508 |
+173% |
|
Total |
27,015 |
73,858 |
+173% |
*Does not include interest
Villa mortgages accounted for 81%, or SAR 59.6 billion of total housing loans provided last year.
Apartments and land plots followed with SAR 8.86 billion and SAR 5.41 billion, respectively.
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
Q1 |
11,174 |
1,577 |
1,103 |
|
Q2 |
12,341 |
1,770 |
1,162 |
|
Q3 |
14,624 |
2,171 |
1,428 |
|
Q4 |
21,451 |
3,340 |
1,718 |
|
Total |
59,590 |
8,858 |
5,411 |
*Does not include interest
A total of 170,300 contracts were signed between banks and retail clients in 2019, a rise of 263% YoY.
|
Number of New Retail Housing Loans Contracts By Banks |
||
|
Period |
Contracts (‘000 contracts) |
Variation |
|
2016 |
20.1 |
-- |
|
2017 |
28.4 |
+41% |
|
2018 |
46.9 |
+65% |
|
2019 |
170.3 |
+263% |
Meanwhile, these contracts rose by 248% YoY to 63,000 in the fourth quarter of 2019.
|
Number of New Retail Housing Loans Contracts By Banks |
|||
|
Period |
2018 |
2019 |
Variation |
|
Q1 |
9,228 |
29,617 |
+221% |
|
Q2 |
9,276 |
34,905 |
+276% |
|
Q3 |
10,263 |
42,788 |
+317% |
|
Q4 |
18,118 |
62,965 |
+248% |
|
Total |
46,885 |
170,275 |
+263% |
Financing firms provided new mortgages for residential units worth SAR 5.27 billion in 2019, an increase of 112% YoY.
SAMA issued new directives in May 2018 obligating all banks and mortgage companies to provide mortgages to individuals, as per the due regulations.
|
Number of New Retail Housing Loans Contracts by Financing Companies (SAR mln)* |
|||
|
Period |
2018 |
2019 |
Variation |
|
Q1 |
438 |
1,093 |
+150% |
|
Q2 |
650 |
1,161 |
+79% |
|
Q3 |
532 |
1,337 |
+151% |
|
Q4 |
868 |
1,679 |
+93% |
|
Total |
2,488 |
5,270 |
+112% |
*Does not include interest 
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