AI Summary
SAR 500 currency notes
Residential real estate finance provided for individuals by banks in Saudi Arabia declined 15% year-on-year (YoY) to SAR 15.3 billion in March, data issued by the Saudi Central Bank (SAMA) showed.
When compared to February, mortgage loans increased by nearly SAR 6.49 billion - the highest in almost one year.
The below table shows the development of the new housing loans for individuals:
|
New Retail Housing Loans (SAR mln)* |
|||
|
Month |
2021 |
2022 |
Change (%) |
|
January |
16,829 |
12,151 |
(28%) |
|
February |
14,181 |
8,784 |
(38%) |
|
March |
18,040 |
15,276 |
(15%) |
|
April |
15,595 |
-- |
-- |
|
May |
8,906 |
-- |
-- |
|
June |
8,322 |
-- |
-- |
|
July |
9,381 |
-- |
-- |
|
August |
12,736 |
-- |
-- |
|
September |
12,036 |
-- |
-- |
|
October |
12,139 |
-- |
-- |
|
November |
11,773 |
-- |
-- |
|
December |
12,602 |
-- |
-- |
*Does not include interest
Villa mortgages came on top, accounting for 60%, or SAR 9.22 billion, of total housing loans provided in March.
Land plots and apartments followed with SAR 3.1 billion and SAR 2.96 billion, respectively.
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2021 |
9,706 |
2,859 |
4,263 |
|
February |
8,602 |
2,411 |
3,169 |
|
March |
10,624 |
3,046 |
4,370 |
|
April |
8,736 |
2,855 |
4,004 |
|
May |
5,296 |
1,595 |
2,016 |
|
June |
3,996 |
1,689 |
2,637 |
|
July |
5,018 |
1,866 |
2,498 |
|
August |
7,899 |
2,716 |
2,121 |
|
September |
7,717 |
2634 |
1,685 |
|
October |
9,491 |
2,272 |
376 |
|
November |
9,082 |
2,276 |
415 |
|
December |
10,025 |
2,183 |
394 |
|
January 2022 |
9,403 |
2,106 |
642 |
|
February |
6,818 |
1,498 |
468 |
|
March |
9,224 |
2,956 |
3,096 |
A total of 19,000 contracts, a decline of 19% YoY, were signed between banks and individuals in March.
|
New Retail Housing Loans Contracts by Banks* |
|||
|
Period |
2021 |
2022 |
Change |
|
January |
23,298 |
16,442 |
(29%) |
|
February |
18,989 |
11,615 |
(39%) |
|
March |
23,380 |
18,999 |
(19%) |
|
April |
19,889 |
-- |
-- |
|
May |
11,495 |
-- |
-- |
|
June |
11,309 |
-- |
-- |
|
July |
12,809 |
-- |
-- |
|
August |
17,143 |
-- |
-- |
|
September |
15,453 |
-- |
-- |
|
October |
16,223 |
-- |
-- |
|
November |
15,406 |
-- |
-- |
|
December |
16,087 |
-- |
-- |
Financing firms provided new mortgages for residential units worth nearly SAR 304 million in March, a drop of 41% YoY.
|
Volume of New Retail Housing Loans Contracts by Financing Companies (SAR mln)* |
|||
|
Period |
2021 |
2022 |
Change |
|
January |
391 |
264 |
(32%) |
|
February |
382 |
221 |
(42%) |
|
March |
515 |
304 |
(41%) |
|
April |
343 |
-- |
-- |
|
May |
254 |
-- |
-- |
|
June |
193 |
-- |
-- |
|
July |
191 |
-- |
-- |
|
August |
337 |
-- |
-- |
|
September |
350 |
-- |
-- |
|
October |
287 |
-- |
-- |
|
November |
264 |
-- |
-- |
|
December |
260 |
-- |
-- |
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