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×Saudi Arabia’s real estate deals grow 21% to SAR 12.8 bln last month
The value of Saudi Arabia’s real estate transactions increased 21% year-on-year (YoY) to SAR 12.8 billion in May-June 2020 (Shawwal 1441 Hijri year), Saudi Justice Ministry’s data showed.
The real estate deals grew by 145% month-on-month (MoM), or SAR 7.6 billion, compared to the previous month.
The number of the real estate transactions in May-June stood at around 15,000, down from 19,780 a year earlier. The number of sold properties also retreated to 15,640.
Total Value of Real Estate Market Transactions (SAR bln) |
|||
Month |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
Aug. - Sept. (Muharram)* |
9.4 |
16.2 |
+73% |
Sept. - Oct. (Safar)* |
12.8 |
15.2 |
+19% |
Oct. - Nov. (Rabi Al Awwal)* |
14.6 |
14.7 |
+1% |
Nov. - Dec. (Rabi Al Thani)* |
14.8 |
14.0 |
(6%) |
Dec. - Jan. (Jumada Al Awwal)* |
18.2 |
13.0 |
(29%) |
Jan. - Feb. (Jumada Al Thani)* |
15.8 |
19.0 |
+20% |
Feb. – March (Rajab)* |
14.4 |
13.4 |
(7%) |
March – April (Sha’ban)* |
13.0 |
3.8 |
(71%) |
April – May (Ramadan)* |
10.4 |
5.2 |
(50%) |
May – June (Shawwal)* |
10.5 |
12.8 |
+21% |
June - July (Dhul Qa’dah)* |
14.7 |
-- |
-- |
July - Aug. (Dhul Hijjah) * |
8.9 |
-- |
-- |
Total |
157.5 |
-- |
-- |
*Updated data.
Commercial deals increased by 125% YoY to SAR 4.15 billion last month, while the agricultural deals recorded SAR 521.6 million. On the other hand, the residential deals slumped by 4% YoY to SAR 8.13 billion.
The commercial deals represented 32.4% of total real estate deals last month, followed by the residential and agricultural deals with 63.5% and 4.1%, respectively.
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)* |
6.78 |
12.65 |
+87% |
2.25 |
3.32 |
+47% |
Sept. - Oct. (Safar)* |
8.43 |
12.34 |
+46% |
3.66 |
2.59 |
(29%) |
Oct. - Nov. (Rabi Al Awwal)* |
8.52 |
11.61 |
+36% |
5.55 |
2.63 |
(53%) |
Nov. - Dec. (Rabi Al Thani)* |
10.91 |
9.76 |
(11%) |
3.23 |
3.81 |
+18% |
Dec. - Jan. (Jumada Al Awwal)* |
11.53 |
10.17 |
(12%) |
6.22 |
2.53 |
(59%) |
Jan. - Feb. (Jumada Al Thani)* |
12.50 |
14.58 |
+17% |
3.09 |
3.99 |
+29% |
Feb. – March (Rajab)* |
11.09 |
9.88 |
(11%) |
3.00 |
3.31 |
+10% |
March – April (Sha’ban)* |
10.12 |
3.35 |
(67%) |
2.42 |
0.40 |
(84%) |
April – May (Ramadan)* |
6.91 |
4.45 |
(36%) |
3.30 |
0.72 |
(78%) |
May – June (Shawwal)* |
8.43 |
8.13 |
(4%) |
1.85 |
4.15 |
+125% |
June - July (Dhul Qa’dah)* |
10.61 |
-- |
-- |
3.65 |
-- |
-- |
July - Aug. (Dhul Hijjah) * |
6.76 |
-- |
-- |
1.95 |
-- |
-- |
Total |
112.58 |
-- |
-- |
40.17 |
-- |
-- |
*Updated data.
Land sale transactions accounted for nearly 94%, or SAR 11.5 billion, of the total realty deals in May-June 2020.
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 |
7,507.17 |
7,378.85 |
(2%) |
1,825.89 |
4,104.69 |
+125% |
Apartment |
639.73 |
478.33 |
(25%) |
11.99 |
11.81 |
(2%) |
Agricultural land |
4.34 |
2.13 |
(51%) |
2.03 |
0.35 |
(83%) |
Building |
2.17 |
92.54 |
-- |
3.94 |
2.00 |
(49%) |
Villa |
139.04 |
79.28 |
(43%) |
0.70 |
4.48 |
+541% |
Show room/shop |
76.90 |
54.26 |
(29%) |
0.05 |
-- |
-- |
House |
53.10 |
36.66 |
(31%) |
0.74 |
0.28 |
(62%) |
Shopping mall |
0.09 |
-- |
-- |
-- |
25.40 |
-- |
Utility |
0.11 |
4.85 |
-- |
-- |
-- |
-- |
Chalet |
2.67 |
0.33 |
(88%) |
-- |
-- |
-- |
Total |
8,425.33 |
8,127.22 |
(4%) |
1,845.34 |
4,149.01 |
+125% |
*Updated data.
Land space fell 31% YoY to 49.5 million square meters last month. On a monthly basis, land space grew by 44.15 million square meters over the same period.
Total area of Real Estate Market Transactions (mln sqm) |
|||
Month |
2018/2019 (1440)* |
2019/2020 (1441) |
Variation |
Aug. - Sept. (Muharram)* |
70.13 |
63.04 |
(10%) |
Sept. - Oct. (Safar)* |
109.58 |
107.98 |
(1%) |
Oct. - Nov. (Rabi Al Awwal)* |
88.70 |
72.53 |
(18%) |
Nov. - Dec. (Rabi Al Thani)* |
66.34 |
54.28 |
(18%) |
Dec. - Jan. (Jumada Al Awwal)* |
96.90 |
77.50 |
(20%) |
Jan. - Feb. (Jumada Al Thani)* |
97.39 |
118.52 |
+22% |
Feb. – March (Rajab)* |
87.86 |
69.77 |
(21%) |
March – April (Sha’ban)* |
83.71 |
3.40 |
(96%) |
April – May (Ramadan)* |
68.14 |
5.31 |
(92%) |
May – June (Shawwal)* |
71.82 |
49.46 |
(31%) |
June - July (Dhul Qa’dah)* |
96.46 |
-- |
-- |
July - Aug. (Dhul Hijjah) * |
42.42 |
-- |
-- |
Total |
979.46 |
-- |
-- |
*Updated data.
Riyadh saw the largest number of real estate deals at SAR 4.65 billion. It was followed by Makkah with SAR 1.4 billion worth of deals.
Real Estate Transactions in Major Cities in May-June (Shawwal) (SAR bln) |
||||||
Residential |
Commercial |
|||||
City |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
Riyadh |
2,535.3 |
2,013.6 |
(21%) |
983.1 |
2,641.0 |
+169% |
Makkah |
422.1 |
1,367.4 |
+224% |
52.5 |
59.8 |
+14% |
Jeddah |
1,776.7 |
991.3 |
(44%) |
195.0 |
274.3 |
+41% |
Al Khobar |
249.6 |
627.0 |
+151% |
32.4 |
392.4 |
-- |
Dammam |
403.5 |
439.6 |
+9% |
98.3 |
161.3 |
+64% |
*Updated data.
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