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) |
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|
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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