SAR 500 currency notes
Residential real estate finance provided for individuals by banks in Saudi Arabia dropped 1% year-on-year (YoY) to SAR 8.81 billion in May, data issued by the Saudi Central Bank (SAMA) showed.
Compared to April 2022, the residential real estate finance slumped by nearly SAR 409 million.
|
New Residential Real Estate Finance for Individuals (SAR mln)* |
|||
|
Month |
2021 |
2022 |
Change |
|
January |
16829 |
12151 |
(28%) |
|
February |
14181 |
8784 |
(38%) |
|
March |
18040 |
15276 |
(15%) |
|
April |
15595 |
9219 |
(41%) |
|
May |
8906 |
8810 |
(1%) |
|
June |
8322 |
-- |
-- |
|
July |
9381 |
-- |
-- |
|
August |
12736 |
-- |
-- |
|
September |
12036 |
-- |
-- |
|
October |
12139 |
-- |
-- |
|
November |
11773 |
-- |
-- |
|
December |
12602 |
-- |
-- |
Villa mortgages accounted for 77%, or SAR 6.79 billion, of the total housing loans provided in May. Apartments and land plots followed with SAR 1.61 billion and SAR 420 million, respectively.
|
New Real Estate Finance by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2021 |
9706 |
2859 |
4263 |
|
February |
8602 |
2411 |
3169 |
|
March |
10624 |
3046 |
4370 |
|
April |
8736 |
2855 |
4004 |
|
May |
5296 |
1595 |
2016 |
|
June |
3996 |
1689 |
2637 |
|
July |
5018 |
1866 |
2498 |
|
August |
7899 |
2716 |
2121 |
|
September |
7717 |
2634 |
1685 |
|
October |
9491 |
2272 |
376 |
|
November |
9082 |
2276 |
415 |
|
December |
10025 |
2183 |
394 |
|
January 2022 |
9403 |
2106 |
642 |
|
February |
6818 |
1498 |
468 |
|
March |
9224 |
2956 |
3096 |
|
April |
5902 |
1707 |
1610 |
|
May |
6785 |
1605 |
420 |
According to SAMA, a total of 10,940 contracts were signed between banks and retail clients in May, a decline of 5% YoY.
|
Number of New Residential Real Estate Finance Contracts by Banks* |
|||
|
Month |
2021 |
2022 |
Change |
|
January |
23298 |
16442 |
)29%( |
|
February |
18989 |
11615 |
(39%) |
|
March |
23380 |
18999 |
(19%) |
|
April |
19889 |
11255 |
(43%) |
|
May |
11495 |
10943 |
(5%) |
|
June |
11309 |
-- |
-- |
|
July |
12809 |
-- |
-- |
|
August |
17143 |
-- |
-- |
|
September |
15453 |
-- |
-- |
|
October |
16223 |
-- |
-- |
|
November |
15406 |
-- |
-- |
|
December |
16087 |
-- |
-- |
*Doesn’t include interest
Financing firms provided new real estate finance worth SAR 148 million in May, a drop of 42% YoY.
|
Number of New Residential Real Estate Contracts by Financing Firms (SAR mln)* |
|||
|
Month |
2021 |
2022 |
Change |
|
January |
391 |
264 |
(32%) |
|
February |
382 |
221 |
(42%) |
|
March |
515 |
304 |
(41%) |
|
April |
343 |
211 |
(38%) |
|
May |
254 |
148 |
(42%) |
|
June |
193 |
-- |
-- |
|
July |
191 |
-- |
-- |
|
August |
337 |
-- |
-- |
|
September |
350 |
-- |
-- |
|
October |
287 |
-- |
-- |
|
November |
264 |
-- |
-- |
|
December |
260 |
-- |
-- |
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