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×Saudi Arabia's real estate deals leap 506% to SAR 23.3 bln last month
The value of Saudi Arabia's real estate transactions grew 506% year-on-year (YoY) to SAR 23.28 billion in March - April 2021 (Sha’ban 1442 Hijri year), recording its highest level in nine months, or since June- July 2020 (Dhul Qa’dah) when it reached SAR 26.5 billion, Saudi Justice Ministry's data showed.
The real estate deals recorded their lowest value in Sha’ban 1441 Hijri year (March-April 2020), coinciding with the Kingdom's precautionary measures to check the spread of coronavirus.
The real estate deals inched up by 0.6%, or SAR 143 million, month-on-month (MoM).
The number of the real estate transactions in March - April 2021 stood at around 35,500, up from nearly 6,120 a year earlier. The number of properties sold also jumped to 36,800.
Total Value of Real Estate Market Transactions (SAR bln) |
|||
Month* |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
Aug. - Sept. (Muharram) |
16.61 |
13.11 |
(21%) |
Sept. - Oct. (Safar) |
15.62 |
11.76 |
(25%) |
Oct. - Nov. (Rabi Al Awwal) |
14.87 |
18.12 |
+ 22% |
Nov. - Dec. (Rabi Al Thani) |
14.32 |
18.67 |
+ 30% |
Dec. - Jan. (Jumada Al Awwal) |
13.32 |
14.44 |
+ 8% |
Jan. - Feb. (Jumada Al Thani) |
19.49 |
18.76 |
(4%) |
Feb. - March (Rajab) |
13.77 |
23.13 |
+ 68% |
March - April (Sha’ban) |
3.84 |
23.28 |
+506% |
April - May (Ramadan) |
5.62 |
-- |
-- |
May - June (Shawwal) |
13.98 |
-- |
-- |
June - July (Dhul Qa’dah) |
26.51 |
-- |
-- |
July - Aug. (Dhul Hijjah) |
5.85 |
-- |
-- |
*Updated data.
Residential deals rose 370% YoY to SAR 15.87 billion. Similarly, the value of the commercial deals grew by 1,255% YoY to SAR 5.42 billion. The agricultural and industrial deals were valued at nearly SAR 1.99 billion last month.
The residential deals represented 68.2% of total real estate deals last month, while commercial deals and agricultural deals represented 23.3% and 8.5%, respectively.
Real Estate Market Transactions in Detail (SAR bln) |
||||||
Residential |
Commercial |
|||||
Month |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
Aug. - Sept. (Muharram) |
13.03 |
9.63 |
(26%) |
3.22 |
2.69 |
(16%) |
Sept. - Oct. (Safar) |
12.73 |
8.11 |
(36%) |
2.58 |
3.02 |
+ 17% |
Oct. - Nov. (Rabi Al Awwal) |
11.85 |
10.51 |
(11%) |
2.68 |
6.75 |
+ 151% |
Nov. - Dec. (Rabi Al Thani) |
10.03 |
10.45 |
+ 4% |
3.89 |
6.63 |
+ 70% |
Dec. – Jan. (Jumada Al Awwal) |
10.40 |
9.45 |
(9%) |
2.61 |
3.42 |
+ 31% |
Jan. - Feb. (Jumada Al Thani) |
14.87 |
12.69 |
(15%) |
4.18 |
4.83 |
+ 16% |
Feb. - March (Rajab) |
10.15 |
14.42 |
+ 42% |
3.37 |
5.82 |
+ 73% |
March - April (Sha’ban) |
3.38 |
15.87 |
+ 370% |
0.40 |
5.42 |
+ 1248% |
April - May (Ramadan) |
4.66 |
-- |
-- |
0.75 |
-- |
-- |
May - June (Shawwal) |
8.96 |
-- |
-- |
4.39 |
-- |
-- |
June - July (Dhul Qa’dah) |
17.47 |
-- |
-- |
7.14 |
-- |
-- |
July - Aug. (Dhul Hijjah) |
4.18 |
-- |
-- |
1.14 |
-- |
-- |
Total |
121.70 |
-- |
-- |
36.37 |
-- |
-- |
*Updated data.
Land sale transactions accounted for nearly 90.2%, or SAR 20.99 billion, of the total realty deals in March - April 2021, followed by the agricultural land sales with a value of SAR 1.41 billion.
Real Estate Market Transactions by Type (SAR mln) |
||
Type |
Transaction Value |
Percentage to total |
Land plot |
20991.7 |
90.2% |
Agricultural land |
1410.1 |
6.1% |
Apartment |
381.4 |
1.6% |
Shopping mall |
187.7 |
0.8% |
Villa |
127.6 |
0.5% |
Showroom/shop |
113.1 |
0.5% |
House |
50.5 |
0.2% |
Building |
12.9 |
0.1% |
Utility |
1.5 |
0.01% |
Chalet |
1.3 |
0.01% |
Total |
23277.7 |
100 % |
Land space increased to 386.91 million square meters (sqm) during March - April 2021.
It rose 226% YoY to 1.85 billion sqm since August - September 2020 compared to the same period a year earlier, while it increased on a monthly basis in March - April 2021 by 98.86 million sqm.
Total area of Real Estate Market Transactions (mln sqm) |
|||
Month |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
Aug. - Sept. (Muharram) |
63.15 |
177.49 |
+ 181% |
Sept. - Oct. (Safar) |
108.04 |
139.59 |
+ 29% |
Oct. - Nov. (Rabi Al Awwal) |
72.46 |
216.74 |
+ 199% |
Nov. - Dec. (Rabi Al Thani) |
54.39 |
222.66 |
+ 309% |
Dec. – Jan. (Jumada Al Awwal) |
77.55 |
165.25 |
+ 113% |
Jan. - Feb. (Jumada Al Thani) |
118.63 |
253.43 |
+ 114% |
Feb. - March (Rajab) |
69.84 |
288.05 |
+ 312% |
March - April (Sha’ban) |
3.41 |
386.91 |
-- |
April - May (Ramadan) |
6.22 |
-- |
-- |
May - June (Shawwal) |
58.42 |
-- |
-- |
June - July (Dhul Qa’dah) |
179.17 |
-- |
-- |
July - Aug. (Dhul Hijjah) |
81.25 |
-- |
-- |
Total |
892.52 |
-- |
-- |
*Updated data.
Riyadh witnessed the largest number of real estate deals at SAR 10.38 billion. It was followed by Jeddah with SAR 3.08 billion worth of deals.
Real Estate Transactions in Major Cities in March- April(Sha'ban) (SAR bln) |
||||||
Residential |
Commercial |
|||||
City |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
Riyadh |
780.5 |
7446.8 |
+854% |
101.8 |
2936.9 |
+2785% |
Jeddah |
204.4 |
2368.9 |
+1059% |
42.8 |
708.8 |
+1556% |
Dammam |
165.7 |
684.5 |
+313% |
27.8 |
270.9 |
+874% |
Madinah |
-- |
558.0 |
-- |
-- |
161.4 |
-- |
Makkah |
114.8 |
608.9 |
+430% |
3.8 |
85.7 |
+2155% |
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