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×Saudi Arabia's real estate deals fall 51% to SAR 5.4 bln last month
The value of Saudi Arabia's real estate transactions plunged 51% year-on-year (YoY) to SAR 5.38 billion in April-May 2020 (Ramadan 1441 Hijri year), Saudi Justice Ministry's data showed.
The real estate deals grew by 38% month-on-month (MoM), or SAR 1.5 billion, compared to previous month.
The number of the real estate transactions in April-May stood at around 6,470, down from nearly 15,470 a year earlier. The number of sold properties also retreated to 6,590.
Total Value of Real Estate Market Transactions (SAR bln) |
|||
Month |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
Aug. - Sept. (Muharram)* |
9.7 |
17.0 |
+75% |
Sept. - Oct. (Safar)* |
13.2 |
16.0 |
+21% |
Oct. - Nov. (Rabi Al Awwal)* |
15.3 |
15.4 |
+1% |
Nov. - Dec. (Rabi Al Thani)* |
16.0 |
14.8 |
(8%) |
Dec. - Jan. (Jumada Al Awwal)* |
19.1 |
13.9 |
(27%) |
Jan. - Feb. (Jumada Al Thani)* |
16.6 |
20.2 |
+21% |
Feb. – March (Rajab)* |
15.1 |
14.2 |
(6%) |
March – April (Sha’ban)* |
13.8 |
3.9 |
(72%) |
April – May (Ramadan)* |
10.9 |
5.4 |
(51%) |
May – June (Shawwal)* |
11.1 |
-- |
-- |
June - July (Dhul Qa’dah)* |
15.5 |
-- |
-- |
July - Aug. (Dhul Hijjah) * |
9.4 |
-- |
-- |
Total |
165.8 |
-- |
-- |
*Updated data.
Residential deals slumped by 37% YoY to SAR 4.6 billion. Similarly, the value of the commercial deals declined by 79% YoY to SAR 724.5 million, and the agricultural deals were valued at nearly SAR 57.5 million last month.
The residential deals represented 86% of total real estate deals last month.
Real Estate Market Transactions in detail (SAR bln) |
||||||
|
Residential |
Commercial |
||||
Month |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
Aug. - Sept. (Muharram)* |
7.05 |
13.26 |
+88% |
2.33 |
3.53 |
+52% |
Sept. - Oct. (Safar)* |
8.80 |
12.93 |
+47% |
3.73 |
2.78 |
(26%) |
Oct. - Nov. (Rabi Al Awwal)* |
9.08 |
12.11 |
+33% |
5.64 |
2.77 |
(51%) |
Nov. - Dec. (Rabi Al Thani)* |
11.65 |
10.31 |
(11%) |
3.70 |
4.07 |
+10% |
Dec. - Jan. (Jumada Al Awwal)* |
12.26 |
10.85 |
(12%) |
6.37 |
2.70 |
(58%) |
Jan. - Feb. (Jumada Al Thani)* |
13.20 |
15.19 |
+15% |
3.20 |
4.56 |
+43% |
Feb. – March (Rajab)* |
11.72 |
10.39 |
(11%) |
3.13 |
3.52 |
+12% |
March – April (Sha’ban)* |
10.69 |
3.43 |
(68%) |
2.57 |
0.40 |
(84%) |
April – May (Ramadan)* |
7.32 |
4.60 |
(37%) |
3.44 |
0.72 |
(79%) |
May – June (Shawwal)* |
8.88 |
-- |
-- |
1.92 |
-- |
-- |
June - July (Dhul Qa’dah)* |
11.29 |
-- |
-- |
3.84 |
-- |
-- |
July - Aug. (Dhul Hijjah) * |
7.19 |
-- |
-- |
2.02 |
-- |
-- |
Total |
122.1 |
-- |
-- |
44.0 |
-- |
-- |
Land sale transactions accounted for nearly 91%, or SAR 4.9 billion, of the total realty deals in April-May (Ramadan), followed by the apartment sales with a value of SAR 376.7 million.
Real Estate Market Transactions by Type (SAR mln) |
||||||
|
Residential |
Commercial |
||||
Type |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
Plot of land |
6172.7 |
4139.2 |
(33%) |
3408.3 |
709.3 |
(79%) |
Apartment |
764.7 |
365.8 |
(52%) |
9.0 |
10.6 |
+17% |
Villa |
195.1 |
36.4 |
(81%) |
-- |
2.9 |
-- |
Show room/shop |
80.3 |
36.2 |
(55%) |
-- |
-- |
-- |
House |
45.5 |
13.0 |
(71%) |
0.5 |
1.1 |
+145% |
Agricultural land |
7.0 |
0.4 |
(94%) |
15.8 |
-- |
-- |
Building |
5.7 |
5.6 |
(3%) |
-- |
0.6 |
-- |
Utility |
51.4 |
3.6 |
(93%) |
1.5 |
-- |
-- |
Shopping mall |
0.1 |
1.6 |
-- |
2.9 |
-- |
-- |
Chalet |
1.3 |
0.4 |
(69%) |
0.9 |
-- |
-- |
Total |
7323.7 |
4602.2 |
(37%) |
3438.9 |
724.5 |
(79%) |
Land space fell 92% YoY to 5.4 million square meters last month, reaching 68.4 million square meters.
Month |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
Aug. - Sept. (Muharram)* |
70.3 |
63.5 |
(10%) |
Sept. - Oct. (Safar)* |
109.8 |
108.3 |
(1%) |
Oct. - Nov. (Rabi Al Awwal)* |
89.1 |
72.9 |
(18%) |
Nov. - Dec. (Rabi Al Thani)* |
67.5 |
54.6 |
(19%) |
Dec. - Jan. (Jumada Al Awwal)* |
97.5 |
77.9 |
(20%) |
Jan. - Feb. (Jumada Al Thani)* |
97.9 |
119.0 |
+22% |
Feb. – March (Rajab)* |
88.3 |
70.1 |
(21%) |
March – April (Sha’ban)* |
84.1 |
3.4 |
(96%) |
April – May (Ramadan)* |
68.4 |
5.4 |
(92%) |
May – June (Shawwal)* |
72.1 |
-- |
-- |
June - July (Dhul Qa’dah)* |
96.9 |
-- |
-- |
July - Aug. (Dhul Hijjah) * |
42.7 |
-- |
-- |
Total |
984.6 |
-- |
-- |
*Updated data.
Riyadh saw the largest number of real estate deals at SAR 2.01 billion. It was followed by Jeddah with SAR 487 million worth of deals.
Real Estate Transactions in Major Cities in April – May (Ramadan) (SAR bln) |
||||||
|
Residential |
Commercial |
||||
City |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
Riyadh |
2.78 |
1.63 |
(41%) |
1.39 |
0.38 |
(73%) |
Jeddah |
0.97 |
0.42 |
(57%) |
1.21 |
0.07 |
(94%) |
Makkah |
0.29 |
0.38 |
+31% |
0.03 |
0.01 |
(67%) |
Dammam |
0.45 |
0.30 |
(33%) |
0.12 |
0.07 |
(42%) |
Al Khobar |
0.27 |
0.20 |
(26%) |
0.08 |
0.03 |
(63%) |
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