AI Summary
The value of Saudi Arabia's real estate transactions increased 2%, or SAR 2.7 billion year-on-year (YoY) to SAR 160.1 billion over the year starting from Aug. 31, 2019 ( 1441 Hijri year), recording its first rise in 6 years, Saudi Justice Ministry's data showed.
The number of the real estate transactions over the 12-month period stood at around 285,100, up from 277,400 in year-earlier period.
A total of 296,700 real estate units were sold over the 12-month period.
|
Total Value of Real Estate Transactions Since 1430 (SAR bln) |
|||
|
Year |
Value |
Variation (Value) |
Variation (%) |
|
1430 (2007/2008) |
79.0 |
-- |
-- |
|
1431* (2009/2008) |
120.4 |
+ 41.4 |
+52% |
|
1432* (2010/2011) |
159.4 |
+ 39.0 |
+32% |
|
1433* (2011/2012) |
196.6 |
+ 37.2 |
+23% |
|
1434* (2012/2013) |
366.5 |
+ 169.9 |
+86% |
|
1435* (2013/2014) |
419.3 |
+ 52.8 |
+14% |
|
1436* (2014/2015) |
354.1 |
(65.1) |
(16%) |
|
1437* (2015/2016) |
276.7 |
(77.5) |
(22%) |
|
1438* (2016/2017) |
196.3 |
(80.3) |
(29%) |
|
1439* (2017/2018) |
165.4 |
(30.9) |
(16%) |
|
1440* (2018/2019) |
157.4 |
(8.0) |
(5%) |
|
1441 (2019/2020) |
160.1 |
+ 2.7 |
+2% |
*Updated Data.
Real estate transactions increased over a six-month period, recording a hike of 76% in Dhul Qa’dah and 73% in Muharram.
Meanwhile, the value of the real estate deals declined over the six months, with a drop of 71% in Sha’ban.
|
Total Value of Real Estate Market Transactions (SAR bln) |
|||
|
Month |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
|
Aug. - Sept. (Muharram) |
9.4 |
16.2 |
+73% |
|
Sept. - Oct. (Safar) |
12.8 |
15.2 |
+19% |
|
Oct. - Nov. (Rabi Al Awwal) |
14.6 |
14.7 |
+1% |
|
Nov. - Dec. (Rabi Al Thani) |
14.8 |
14.0 |
(6%) |
|
Dec. - Jan. (Jumada Al Awwal) |
18.2 |
13.0 |
(29%) |
|
Jan. - Feb. (Jumada Al Thani) |
15.8 |
19.0 |
+20% |
|
Feb. – March (Rajab) |
14.4 |
13.4 |
(7%) |
|
March – April (Sha’ban) |
13.0 |
3.8 |
(71%) |
|
April – May (Ramadan) |
10.4 |
5.5 |
(47%) |
|
May – June (Shawwal) |
10.5 |
13.7 |
+30% |
|
June - July (Dhul Qa’dah) |
14.7 |
25.8 |
+76% |
|
July - Aug. (Dhul Hijjah) |
8.9 |
5.8 |
(34%) |
|
Total |
157.4 |
160.1 |
+2% |
The value of the residential deals stood at SAR 118.7 billion, while the value of the commercial deals reached SAR 35.6 billion. The agricultural as well as the industrial deals were valued at nearly SAR 5.8 billion over the last 12 months.
Land sale deals represented nearly 89%, or SAR 142.1 billion, of total real estate deals over the 12-month period.
|
Real Estate Market Property by Type (SAR bln) |
|||
|
Property Type |
Residential |
Commercial |
Total |
|
Plot of land |
106.2 |
34.8 |
142.1 |
|
Apartment |
8.0 |
0.2 |
8.3 |
|
Agricultural land |
0.1 |
0.2 |
4.8 |
|
Villa |
1.5 |
0.1 |
1.6 |
|
Utility |
1.1 |
0.04 |
1.2 |
|
Showroom/shop |
0.8 |
0.02 |
0.8 |
|
House |
0.6 |
0.02 |
0.6 |
|
Building |
0.3 |
0.03 |
0.3 |
|
Shopping mall |
0.1 |
0.02 |
0.3 |
|
Chalet |
0.03 |
-- |
0.04 |
|
Palace |
-- |
0.01 |
0.01 |
|
Total |
118.7 |
35.6 |
160.1 |
Land space fell 9% YoY to 891.8 million square meters last year.
|
Real Estate Market Properties Areas (SQM) |
|||
|
Month |
2018/2019 (1440) |
2019/2020 (1441) |
Variation |
|
Aug. - Sept. (Muharram) |
70.13 |
63.03 |
(10%) |
|
Sept. - Oct. (Safar) |
109.58 |
107.97 |
(1%) |
|
Oct. - Nov. (Rabi Al Awwal) |
88.70 |
72.53 |
(18%) |
|
Nov. - Dec. (Rabi Al Thani) |
66.33 |
54.27 |
(18%) |
|
Dec. - Jan. (Jumada Al Awwal) |
96.89 |
77.46 |
(20%) |
|
Jan. - Feb. (Jumada Al Thani) |
97.39 |
118.60 |
+22% |
|
Feb. – March (Rajab) |
87.86 |
69.76 |
(21%) |
|
March – April (Sha’ban) |
83.71 |
3.40 |
(96%) |
|
April – May (Ramadan) |
68.13 |
6.19 |
(91%) |
|
May – June (Shawwal) |
71.82 |
58.36 |
(19%) |
|
June - July (Dhul Qa’dah) |
96.46 |
179.03 |
+86% |
|
July - Aug. (Dhul Hijjah) |
42.41 |
81.23 |
+92% |
|
Total |
979.37 |
891.84 |
(9%) |
Riyadh saw the largest number of real estate deals at SAR 53.6 billion. It was followed by Jeddah with SAR 23.1 billion worth of deals.
|
Real Estate Transactions in Major Cities (SAR bln) |
|||
|
City |
Residential |
Commercial |
Total |
|
Riyadh |
38.14 |
15.46 |
53.60 |
|
Jeddah |
17.25 |
5.89 |
23.14 |
|
Makkah |
9.02 |
0.90 |
9.92 |
|
Dammam |
5.60 |
2.46 |
8.06 |
|
Al Khobar |
4.89 |
2.50 |
7.39 |
|
Al Madinah |
5.44 |
1.49 |
6.93 |
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