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Saudi Arabia's real estate deals rise 34% to SAR 19.4 bln last month
AI Summary
Content Summary: 
Riyadh City
The value of Saudi Arabia's real estate transactions grew by 34% to SAR 19.4 billion in Dec. 2021 – Jan. 2022 (Jumada Al Awwal 1443 Hijri year), compared to SAR 14.4 billion in the same period last year, Ministry of Justice data showed.
The real estate deals increased by 8%, or SAR 1.38 billion, month-on-month (MoM).
The number of the real estate transactions during the same period stood at around 24,500, down from nearly 25,400 a year earlier. The number of properties sold also fell to 25,400 for the same period.
|
Total Value of Real Estate Market Transactions (SAR bln) |
|||
|
Month* |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
|
Aug. - Sept. (Muharram) |
13.18 |
15.54 |
+18% |
|
Sept. - Oct. (Safar) |
11.76 |
14.56 |
+24% |
|
Oct. - Nov. (Rabi Al Awwal) |
18.18 |
18.11 |
(0.3%) |
|
Nov. - Dec. (Rabi Al Thani) |
18.71 |
18.03 |
(4%) |
|
Dec. - Jan. (Jumada Al Awwal) |
14.44 |
19.42 |
+34% |
|
Jan. - Feb. (Jumada Al Thani) |
18.72 |
-- |
-- |
|
Feb. - March (Rajab) |
23.17 |
-- |
-- |
|
March - April (Sha’ban) |
23.30 |
-- |
-- |
|
April - May (Ramadan) |
15.19 |
-- |
-- |
|
May - June (Shawwal) |
11.69 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
17.31 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
11.85 |
-- |
-- |
|
Total |
197.50 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
The commercial real estate deals rose 63% year-on-year (YoY) to SAR 5.56 billion. The value of residential deals increased by 27% YoY to SAR 12.05 billion, while the agricultural industrial deals were valued at nearly SAR 1.81 billion last month.
The residential deals represented 62% of total real estate deals last month, while commercial and agricultural industrial deals represented 29% and 9%, respectively.
|
Real Estate Market Transactions in Detail (SAR bln) |
||||||
|
|
Residential |
Commercial |
||||
|
Month* |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
|
Aug. - Sept. (Muharram) |
9.65 |
9.10 |
(6%) |
2.74 |
5.20 |
+90% |
|
Sept. - Oct. (Safar) |
8.12 |
8.94 |
+10% |
3.02 |
4.52 |
+50% |
|
Oct. - Nov. (Rabi Al Awwal) |
10.55 |
10.92 |
+4% |
6.78 |
5.64 |
(17%) |
|
Nov. - Dec. (Rabi Al Thani) |
10.48 |
10.64 |
+2% |
6.65 |
5.60 |
(16%) |
|
Dec. – Jan. (Jumada Al Awwal) |
9.48 |
12.05 |
+27% |
3.41 |
5.56 |
+63% |
|
Jan. - Feb. (Jumada Al Thani) |
12.69 |
-- |
-- |
4.82 |
-- |
-- |
|
Feb. - March (Rajab) |
14.49 |
-- |
-- |
5.84 |
-- |
-- |
|
March - April (Sha’ban) |
15.87 |
-- |
-- |
5.48 |
-- |
-- |
|
April - May (Ramadan) |
9.60 |
-- |
-- |
4.27 |
-- |
-- |
|
May - June (Shawwal) |
7.15 |
-- |
-- |
3.48 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
10.64 |
-- |
-- |
5.54 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
6.59 |
-- |
-- |
4.20 |
-- |
-- |
|
Total |
125.32 |
-- |
-- |
56.22 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
Land sale transactions accounted for nearly 88.2%, or SAR 17.1 billion, of total realty deals in December 2021-January 2022, followed by the agricultural land sales with a value of SAR 1.15 billion.
The below table shows real estate market transactions by type in December 2021–January 2022:
|
Real Estate Market Transactions by Type (SAR mln) |
||
|
Type |
Transaction Value |
Percentage to total |
|
Land Plot |
17,135.4 |
88.2% |
|
Agricultural Land |
1,146.8 |
5.9% |
|
Apartment |
1,033.3 |
5.3% |
|
Villa |
56.1 |
0.3% |
|
House |
23.7 |
0.1% |
|
Building |
6.4 |
0.03% |
|
Showroom/Shop |
5.4 |
0.03% |
|
Chalet |
4.9 |
0.03% |
|
Utility |
4.8 |
0.02% |
|
Total |
19416.9 |
100% |
Land space surged 162% to 358.6 million square meters (sqm) compared with 136.8 million sqm the same period the year before.
|
Total Area of Real Estate Market Transactions (mln sqm) |
|||
|
Month |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
|
Aug. - Sept. (Muharram) |
172.41 |
410.65 |
+138% |
|
Sept. - Oct. (Safar) |
128.23 |
403.10 |
+214% |
|
Oct. - Nov. (Rabi Al Awwal) |
209.06 |
446.51 |
+114% |
|
Nov. - Dec. (Rabi Al Thani) |
217.43 |
511.88 |
+135% |
|
Dec. – Jan. (Jumada Al Awwal) |
136.82 |
358.62 |
+162% |
|
Jan. - Feb. (Jumada Al Thani) |
225.55 |
-- |
-- |
|
Feb. - March (Rajab) |
245.91 |
-- |
-- |
|
March - April (Sha’ban) |
343.83 |
-- |
-- |
|
April - May (Ramadan) |
241.01 |
-- |
-- |
|
May - June (Shawwal) |
275.73 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
374.01 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
254.29 |
-- |
-- |
|
Total |
2824.28 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
Riyadh was the most active city by value of residential and commercial transactions, reaching SAR 8.08 billion. Jeddah took the second place with transactions worth SAR 3.14 billion in December 2021–January 2022.
|
Real Estate Transactions in Major Cities (SAR bln) |
||||||
|
City |
Residential |
Commercial |
||||
|
2020/2021 1442 |
2021/2022 1443 |
Variation |
2020/2021 1442 |
2021/2022 1443 |
Variation |
|
|
Riyadh |
3349.5 |
4813.4 |
+44% |
1414.5 |
3271.0 |
+131% |
|
Jeddah |
1860.8 |
2358.5 |
+27% |
758.2 |
782.9 |
+3% |
|
Makkah |
544.3 |
1053.4 |
+94% |
83.3 |
92.7 |
+11% |
|
Al Khobar |
516.0 |
362.6 |
(30%) |
112.1 |
353.4 |
+215% |
|
Dammam |
600.6 |
443.8 |
(26%) |
224.1 |
185.8 |
(17%) |
|
Madinah |
338.6 |
415.5 |
+23% |
99.8 |
128.0 |
+28% |
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