Mortgage loans provided to retail clients by banks in Saudi Arabia rose by 96% year-on-year (YoY) to SAR 12.99 billion in September 2020, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.
When compared to August, mortgage loans grew by around SAR 3.13 billion YoY.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period |
2019 |
2020 |
Variation |
|
January** |
4,462 |
9,692 |
+117% |
|
February** |
4,271 |
10,590 |
+148% |
|
March** |
5,267 |
10,894 |
+107% |
|
April** |
6,148 |
7,650 |
+24% |
|
May |
5,252 |
7,791 |
+48% |
|
June |
4,097 |
13,120 |
+220% |
|
July |
6,762 |
10,776 |
+59% |
|
August |
4,892 |
9,866 |
+102% |
|
September |
6,640 |
12,993 |
+96% |
|
October |
8,721 |
-- |
-- |
|
November |
8,523 |
-- |
-- |
|
December |
9,314 |
-- |
-- |
*Doesn’t include interest
**Updated data
Villa mortgages came on top, accounting for 81%, or SAR 10.49 billion of total housing loans provided in September.
Apartments and land plots followed with SAR 1.86 billion and SAR 640 million, respectively.
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2020 |
7,750 |
1,270 |
672 |
|
February |
8,460 |
1,418 |
711 |
|
March |
8,701 |
1,714 |
479 |
|
April |
6,287 |
1,041 |
322 |
|
May |
6,217 |
1,237 |
337 |
|
June |
11,012 |
1,367 |
741 |
|
July |
8,559 |
1,572 |
645 |
|
August |
7,788 |
1,518 |
561 |
|
September |
10,490 |
1,863 |
640 |
*Doesn’t include interest
A total of 27,390 contracts were signed between banks and retail clients in the same month, a rise of 71% YoY.
|
Number of New Retail Housing Loans Contracts By Banks (SAR mln)* |
|||
|
Period |
2019 |
2020 |
Variation |
|
January** |
9,054 |
23,471 |
+159% |
|
February** |
9,044 |
24,676 |
+173% |
|
March** |
11,505 |
23,141 |
+101% |
|
April** |
13,765 |
17,856 |
+30% |
|
May |
12,068 |
15,462 |
+28% |
|
June |
9,117 |
26,137 |
+187% |
|
July |
15,018 |
23,909 |
+59% |
|
August |
11,737 |
21,755 |
+85% |
|
September |
16,012 |
27,390 |
+71% |
|
October |
20,888 |
-- |
-- |
|
November |
19,659 |
-- |
-- |
|
December |
22,411 |
-- |
-- |
*Doesn’t include interest
**Updated data.
Financing firms provided new mortgages for residential units worth SAR 339 million in September, a decline of 30% YoY.
SAMA issued new directives in May 2018 obligating all banks and mortgage companies to provide mortgages to individuals, as per the due regulations.
|
Number of New Retail Housing Loans Contracts By Financing Companies (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 |
350 |
(33%) |
|
August |
332 |
261 |
(21%) |
|
September |
483 |
339 |
(30%) |
|
October |
562 |
-- |
-- |
|
November |
549 |
-- |
-- |
|
December |
569 |
-- |
-- |
*Doesn’t include interest
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