AI Summary
Mortgage loans provided to retail clients by banks in Saudi Arabia surged 56% year-on-year (YoY) to SAR 16.95 billion in March 2021, data issued by the Saudi Central Bank (SAMA) showed.
When compared to February, mortgage loans increased by around SAR 3.2 billion in March.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period |
2020 |
2021 |
Variation |
|
January |
9692 |
16041 |
+66 % |
|
February |
10590 |
13748 |
+30 % |
|
March |
10894 |
16946 |
+56 % |
|
April |
7650 |
-- |
-- |
|
May |
7791 |
-- |
-- |
|
June |
13120 |
-- |
-- |
|
July |
10776 |
-- |
-- |
|
August |
9866 |
-- |
-- |
|
September |
12993 |
-- |
-- |
|
October |
12148 |
-- |
-- |
|
November |
15266 |
-- |
-- |
|
December |
15412 |
-- |
-- |
*Does not include interest
Villa mortgages came on top, accounting for 81%, or SAR 13.68 billion of total housing loans provided in March.
Apartments and land plots followed with SAR 2.57 billion and SAR 697 million, respectively.
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2020 |
7750 |
1270 |
672 |
|
February |
8460 |
1418 |
711 |
|
March |
8701 |
1714 |
479 |
|
April |
6287 |
1041 |
322 |
|
May |
6217 |
1237 |
337 |
|
June |
11012 |
1367 |
741 |
|
July |
8559 |
1572 |
645 |
|
August |
7788 |
1518 |
561 |
|
September |
10490 |
1863 |
640 |
|
October |
9897 |
1597 |
654 |
|
November |
12383 |
2184 |
700 |
|
December |
12721 |
2013 |
678 |
|
January 2021 |
12644 |
2417 |
980 |
|
February |
11047 |
2092 |
610 |
|
March |
13681 |
2568 |
697 |
*Does not include interest
A total of 31,800 contracts were signed between banks and retail clients in the same month, a rise of 38% YoY.
|
Number of New Retail Housing Loans Contracts By Banks (SAR mln)* |
|||
|
Period |
2020 |
2021 |
Variation |
|
January |
23471 |
32330 |
+38% |
|
February |
24676 |
26376 |
+7% |
|
March |
23141 |
31826 |
+38% |
|
April |
17856 |
-- |
-- |
|
May |
15462 |
-- |
-- |
|
June |
26137 |
-- |
-- |
|
July |
23909 |
-- |
-- |
|
August |
21755 |
-- |
-- |
|
September |
27390 |
-- |
-- |
|
October |
25483 |
-- |
-- |
|
November |
30017 |
-- |
-- |
|
December |
29960 |
-- |
-- |
*Does not include interest
Financing firms provided new mortgages for residential units worth SAR 515 million in March, leaping 58% YoY.
|
Number of New Retail Housing Loans Contracts By Financing Companies (SAR mln)* |
|||
|
Period |
2020 |
2021 |
Variation |
|
January |
565 |
391 |
(31%) |
|
February |
459 |
380 |
(17%) |
|
March |
325 |
515 |
+58% |
|
April |
90 |
-- |
-- |
|
May |
201 |
-- |
-- |
|
June |
742 |
-- |
-- |
|
July |
350 |
-- |
-- |
|
August |
261 |
-- |
-- |
|
September |
339 |
-- |
-- |
|
October |
342 |
-- |
-- |
|
November |
436 |
-- |
-- |
|
December |
441 |
-- |
-- |
*Does not include interest
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