The value of Saudi Arabia's real estate transactions plunged 51% year-on-year (YoY) to SAR 5.38 billion in April-May 2020 (Ramadan 1441 Hijri year), Saudi Justice Ministry's data showed.
The real estate deals grew by 38% month-on-month (MoM), or SAR 1.5 billion, compared to previous month.
The number of the real estate transactions in April-May stood at around 6,470, down from nearly 15,470 a year earlier. The number of sold properties also retreated to 6,590.
|
Total Value of Real Estate Market Transactions (SAR bln) |
|||
|
Month |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
|
Aug. - Sept. (Muharram)* |
9.7 |
17.0 |
+75% |
|
Sept. - Oct. (Safar)* |
13.2 |
16.0 |
+21% |
|
Oct. - Nov. (Rabi Al Awwal)* |
15.3 |
15.4 |
+1% |
|
Nov. - Dec. (Rabi Al Thani)* |
16.0 |
14.8 |
(8%) |
|
Dec. - Jan. (Jumada Al Awwal)* |
19.1 |
13.9 |
(27%) |
|
Jan. - Feb. (Jumada Al Thani)* |
16.6 |
20.2 |
+21% |
|
Feb. – March (Rajab)* |
15.1 |
14.2 |
(6%) |
|
March – April (Sha’ban)* |
13.8 |
3.9 |
(72%) |
|
April – May (Ramadan)* |
10.9 |
5.4 |
(51%) |
|
May – June (Shawwal)* |
11.1 |
-- |
-- |
|
June - July (Dhul Qa’dah)* |
15.5 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) * |
9.4 |
-- |
-- |
|
Total |
165.8 |
-- |
-- |
*Updated data.
Residential deals slumped by 37% YoY to SAR 4.6 billion. Similarly, the value of the commercial deals declined by 79% YoY to SAR 724.5 million, and the agricultural deals were valued at nearly SAR 57.5 million last month.
The residential deals represented 86% of total real estate deals last month.
|
Real Estate Market Transactions in detail (SAR bln) |
||||||
|
Residential |
Commercial |
|||||
|
Month |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
|
Aug. - Sept. (Muharram)* |
7.05 |
13.26 |
+88% |
2.33 |
3.53 |
+52% |
|
Sept. - Oct. (Safar)* |
8.80 |
12.93 |
+47% |
3.73 |
2.78 |
(26%) |
|
Oct. - Nov. (Rabi Al Awwal)* |
9.08 |
12.11 |
+33% |
5.64 |
2.77 |
(51%) |
|
Nov. - Dec. (Rabi Al Thani)* |
11.65 |
10.31 |
(11%) |
3.70 |
4.07 |
+10% |
|
Dec. - Jan. (Jumada Al Awwal)* |
12.26 |
10.85 |
(12%) |
6.37 |
2.70 |
(58%) |
|
Jan. - Feb. (Jumada Al Thani)* |
13.20 |
15.19 |
+15% |
3.20 |
4.56 |
+43% |
|
Feb. – March (Rajab)* |
11.72 |
10.39 |
(11%) |
3.13 |
3.52 |
+12% |
|
March – April (Sha’ban)* |
10.69 |
3.43 |
(68%) |
2.57 |
0.40 |
(84%) |
|
April – May (Ramadan)* |
7.32 |
4.60 |
(37%) |
3.44 |
0.72 |
(79%) |
|
May – June (Shawwal)* |
8.88 |
-- |
-- |
1.92 |
-- |
-- |
|
June - July (Dhul Qa’dah)* |
11.29 |
-- |
-- |
3.84 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) * |
7.19 |
-- |
-- |
2.02 |
-- |
-- |
|
Total |
122.1 |
-- |
-- |
44.0 |
-- |
-- |
Land sale transactions accounted for nearly 91%, or SAR 4.9 billion, of the total realty deals in April-May (Ramadan), followed by the apartment sales with a value of SAR 376.7 million.
|
Real Estate Market Transactions by Type (SAR mln) |
||||||
|
Residential |
Commercial |
|||||
|
Type |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
|
Plot of land |
6172.7 |
4139.2 |
(33%) |
3408.3 |
709.3 |
(79%) |
|
Apartment |
764.7 |
365.8 |
(52%) |
9.0 |
10.6 |
+17% |
|
Villa |
195.1 |
36.4 |
(81%) |
-- |
2.9 |
-- |
|
Show room/shop |
80.3 |
36.2 |
(55%) |
-- |
-- |
-- |
|
House |
45.5 |
13.0 |
(71%) |
0.5 |
1.1 |
+145% |
|
Agricultural land |
7.0 |
0.4 |
(94%) |
15.8 |
-- |
-- |
|
Building |
5.7 |
5.6 |
(3%) |
-- |
0.6 |
-- |
|
Utility |
51.4 |
3.6 |
(93%) |
1.5 |
-- |
-- |
|
Shopping mall |
0.1 |
1.6 |
-- |
2.9 |
-- |
-- |
|
Chalet |
1.3 |
0.4 |
(69%) |
0.9 |
-- |
-- |
|
Total |
7323.7 |
4602.2 |
(37%) |
3438.9 |
724.5 |
(79%) |
Land space fell 92% YoY to 5.4 million square meters last month, reaching 68.4 million square meters.
|
Month |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
|
Aug. - Sept. (Muharram)* |
70.3 |
63.5 |
(10%) |
|
Sept. - Oct. (Safar)* |
109.8 |
108.3 |
(1%) |
|
Oct. - Nov. (Rabi Al Awwal)* |
89.1 |
72.9 |
(18%) |
|
Nov. - Dec. (Rabi Al Thani)* |
67.5 |
54.6 |
(19%) |
|
Dec. - Jan. (Jumada Al Awwal)* |
97.5 |
77.9 |
(20%) |
|
Jan. - Feb. (Jumada Al Thani)* |
97.9 |
119.0 |
+22% |
|
Feb. – March (Rajab)* |
88.3 |
70.1 |
(21%) |
|
March – April (Sha’ban)* |
84.1 |
3.4 |
(96%) |
|
April – May (Ramadan)* |
68.4 |
5.4 |
(92%) |
|
May – June (Shawwal)* |
72.1 |
-- |
-- |
|
June - July (Dhul Qa’dah)* |
96.9 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) * |
42.7 |
-- |
-- |
|
Total |
984.6 |
-- |
-- |
*Updated data.
Riyadh saw the largest number of real estate deals at SAR 2.01 billion. It was followed by Jeddah with SAR 487 million worth of deals.
|
Real Estate Transactions in Major Cities in April – May (Ramadan) (SAR bln) |
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|
Residential |
Commercial |
|||||
|
City |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
|
Riyadh |
2.78 |
1.63 |
(41%) |
1.39 |
0.38 |
(73%) |
|
Jeddah |
0.97 |
0.42 |
(57%) |
1.21 |
0.07 |
(94%) |
|
Makkah |
0.29 |
0.38 |
+31% |
0.03 |
0.01 |
(67%) |
|
Dammam |
0.45 |
0.30 |
(33%) |
0.12 |
0.07 |
(42%) |
|
Al Khobar |
0.27 |
0.20 |
(26%) |
0.08 |
0.03 |
(63%) |
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