AI Summary
Mortgage loans provided to retail clients by commercial banks in Saudi Arabia saw an increase of 102% year-on-year (YoY) to SAR 58.8 billion during the first half of 2020, according to data issued by the Saudi Arabian Monetary Authority (SAMA).
Loans to retail clients jumped 224% YoY to SAR 13.1 billion in June 2020.
On a monthly basis, mortgage loans levelled up by SAR 5.5 billion in June 2020.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period |
2019 |
2020 |
Variation |
|
January |
4431 |
9520 |
+115% |
|
February |
4224 |
10242 |
+142% |
|
March |
5199 |
10717 |
+106% |
|
April |
6035 |
7577 |
+26% |
|
May |
5187 |
7656 |
+48% |
|
June |
4051 |
13124 |
+224% |
|
July |
6678 |
-- |
-- |
|
August |
4903 |
-- |
-- |
|
September |
6642 |
-- |
-- |
|
October |
8716 |
-- |
-- |
|
November |
8503 |
-- |
-- |
|
December |
9289 |
-- |
-- |
*Does not include interest
Villa mortgages accounted for 82%, or SAR 48 billion of total housing loans provided during the first six months of 2020.
Apartments and land plots followed with SAR 7.9 billion and SAR 2.9 billion, respectively.
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2019 |
3520 |
562 |
349 |
|
February |
3436 |
466 |
322 |
|
March |
4218 |
549 |
432 |
|
April |
4910 |
636 |
489 |
|
May |
4223 |
610 |
354 |
|
June |
3208 |
524 |
319 |
|
July |
5279 |
830 |
569 |
|
August |
3928 |
605 |
370 |
|
September |
5417 |
736 |
489 |
|
October |
7070 |
1033 |
613 |
|
November |
6750 |
1214 |
539 |
|
December |
7631 |
1093 |
566 |
|
January 2020 |
7709 |
1242 |
569 |
|
February |
8259 |
1363 |
620 |
|
March |
8618 |
1683 |
416 |
|
April |
6262 |
1021 |
294 |
|
May |
6147 |
1217 |
292 |
|
June |
11010 |
1368 |
745 |
*Doesn’t include interest
According to SAMA, a total of 128,500 contracts were signed between banks and retail clients in H1 2020, a rise of 99% YoY.
|
Number of New Retail Housing Loans Contracts by Banks |
|||
|
Period |
2019 |
2020 |
Variation |
|
January |
9062 |
22820 |
+152% |
|
February |
9049 |
23961 |
+165% |
|
March |
11506 |
22748 |
+98% |
|
April |
13712 |
17657 |
+29% |
|
May |
12071 |
15165 |
+26% |
|
June |
9122 |
26147 |
+187% |
|
July |
15025 |
-- |
-- |
|
August |
11747 |
-- |
-- |
|
September |
16016 |
-- |
-- |
|
October |
20894 |
-- |
-- |
|
November |
19657 |
-- |
-- |
|
December |
22414 |
-- |
-- |
*Doesn’t include interest
Financing firms provided new mortgages for residential units worth SAR 2.4 billion in H1 2020, a rise of 6% YoY.
In June, new mortgages for residential units grew 139% YoY to SAR 742 million.
|
Number of New Retail Housing Loans Contracts by Financing Firms (SAR mln)* |
|||
|
Period |
2019 |
2020 |
Variation |
|
January |
335 |
565 |
+69% |
|
February |
397 |
459 |
+15% |
|
March |
361 |
325 |
(10%) |
|
April |
384 |
90 |
(77%) |
|
May |
466 |
201 |
(57%) |
|
June |
311 |
742 |
+139% |
|
July |
522 |
-- |
-- |
|
August |
332 |
-- |
-- |
|
September |
483 |
-- |
-- |
|
October |
562 |
-- |
-- |
|
November |
549 |
-- |
-- |
|
December |
569 |
-- |
-- |
*Doesn’t include interest
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