The value of Saudi Arabia's real estate transactions fell 3% year-on-year (YoY) to SAR 18.7 billion in January-February 2021 (Jumada Al Thani 1442 Hijri year), Saudi Justice Ministry's data showed.
The real estate deals rose by 30%, or SAR 4.34 billion, month-on-month (MoM).
The number of the real estate transactions in January-February stood at around 31,800, down from nearly 37,100 a year earlier. The number of properties sold also retreated to 33,300.
|
Total Value of Real Estate Market Transactions (SAR bln) |
|||
|
Month* |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
|
Aug.-Sept. (Muharram) |
16.35 |
13.11 |
(20%) |
|
Sept.-Oct. (Safar) |
15.51 |
11.69 |
(25%) |
|
Oct.- Nov. (Rabi Al Awwal) |
14.72 |
17.98 |
+ 22% |
|
Nov.- Dec. (Rabi Al Thani) |
14.18 |
18.59 |
+ 31% |
|
Dec. -Jan. (Jumada Al Awwal) |
13.14 |
14.38 |
+ 9% |
|
Jan. -Feb. (Jumada Al Thani) |
19.26 |
18.72 |
(3%) |
|
Feb.- March (Rajab) |
13.58 |
-- |
-- |
|
March- April (Sha’ban) |
3.83 |
-- |
-- |
|
April- May (Ramadan) |
5.58 |
-- |
-- |
|
May- June (Shawwal) |
13.84 |
-- |
-- |
|
June- July (Dhul Qa’dah) |
26.18 |
-- |
-- |
|
July- Aug. (Dhul Hijjah) |
5.85 |
-- |
-- |
|
Total |
162.03 |
-- |
-- |
*Updated data.
Residential deals slumped 14% YoY to SAR 12.65 billion. In contrast, the value of the commercial deals grew by 17% YoY to SAR 4.83 billion. The agricultural deals were valued at nearly SAR 1.24 billion last month.
The residential deals represented 67.6% of total real estate deals last month while commercial deals and agricultural deals represented 25.8% and 6.6%, respectively.
|
Real Estate Market Transactions in Detail (SAR bln) |
||||||
|
Residential |
Commercial |
|||||
|
Month |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
|
Aug.-Sept. (Muharram) |
12.80 |
9.62 |
(25%) |
3.19 |
2.69 |
(16%) |
|
Sept.-Oct. (Safar) |
12.60 |
8.06 |
(36%) |
2.60 |
3.00 |
+ 15% |
|
Oct.- Nov. (Rabi Al Awwal) |
11.73 |
10.42 |
(11%) |
2.64 |
6.68 |
+ 153% |
|
Nov.- Dec. (Rabi Al Thani) |
9.89 |
10.39 |
+ 5% |
3.88 |
6.61 |
+ 70% |
|
Dec. –Jan. (Jumada Al Awwal) |
10.29 |
9.40 |
(9%) |
2.55 |
3.41 |
+ 34% |
|
Jan. -Feb. (Jumada Al Thani) |
14.70 |
12.65 |
(14%) |
4.12 |
4.83 |
+ 17% |
|
Feb.- March (Rajab) |
10.03 |
-- |
-- |
3.31 |
-- |
-- |
|
March- April (Sha’ban) |
3.37 |
-- |
-- |
0.40 |
-- |
-- |
|
April- May (Ramadan) |
4.62 |
-- |
-- |
0.75 |
-- |
-- |
|
May- June (Shawwal) |
8.85 |
-- |
-- |
4.35 |
-- |
-- |
|
June- July (Dhul Qa’dah) |
17.25 |
-- |
-- |
7.04 |
-- |
-- |
|
July- Aug. (Dhul Hijjah) |
4.18 |
-- |
-- |
1.14 |
-- |
-- |
|
Total |
120.32 |
-- |
-- |
35.98 |
-- |
-- |
Land sale transactions accounted for nearly 91.4%, or SAR 17.1 billion, of the total realty deals in January-February 2021, followed by the agricultural land sales with a value of SAR 840.2 million.
|
Real Estate Market Property by Type (SAR mln) |
||
|
Type |
Transaction Value |
Percentage to total |
|
Plot of land |
17,113.1 |
91.4 % |
|
Agricultural land |
840.2 |
4.5 % |
|
Apartment |
350.0 |
1.9 % |
|
Villa |
153.8 |
0.8 % |
|
Gallery/shop |
133.9 |
0.7 % |
|
House |
69.3 |
0.4% |
|
Building |
55.5 |
0.3 % |
|
Shopping mall |
1.5 |
0.01 % |
|
Chalet |
1.0 |
0.01 % |
|
Utility |
0.7 |
-- |
|
Total |
18,719.0 |
100 % |
Land space rose 114% YoY to 253.43 million square meters last month, but fell on a monthly basis by 88.2 million square meters.
|
Total area of Real Estate Market Transactions (mln sqm) |
|||
|
Month |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
|
Aug.-Sept. (Muharram) |
63.09 |
177.49 |
+ 181% |
|
Sept.-Oct. (Safar) |
108.01 |
139.57 |
+ 29% |
|
Oct.- Nov. (Rabi Al Awwal) |
72.39 |
216.68 |
+ 199% |
|
Nov.- Dec. (Rabi Al Thani) |
54.34 |
222.63 |
+ 310% |
|
Dec. –Jan. (Jumada Al Awwal) |
77.48 |
165.24 |
+ 113% |
|
Jan. -Feb. (Jumada Al Thani) |
118.62 |
253.43 |
+ 114% |
|
Feb.- March (Rajab) |
69.78 |
-- |
-- |
|
March- April (Sha’ban) |
3.40 |
-- |
-- |
|
April- May (Ramadan) |
6.21 |
-- |
-- |
|
May- June (Shawwal) |
58.39 |
-- |
-- |
|
June- July (Dhul Qa’dah) |
179.05 |
-- |
-- |
|
July- Aug. (Dhul Hijjah) |
81.25 |
-- |
-- |
|
Total |
892.02 |
-- |
-- |
*Updated data.
Riyadh saw the largest number of real estate deals at SAR 7.15 billion. It was followed by Jeddah with SAR 2.92 billion worth of deals.
|
Real Estate Transactions in Major Cities in January-February (Jumada Al Thani) (SAR bln) |
||||||
|
|
Residential |
Commercial |
||||
|
City |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
|
Riyadh |
4372.5 |
4749.2 |
+9% |
1,602.2 |
2,398.1 |
+50% |
|
Jeddah |
2210.7 |
2100.2 |
(5%) |
710.7 |
818.5 |
+15% |
|
Makkah |
1483.1 |
1087.8 |
(27%) |
214.0 |
95.2 |
(56%) |
|
Al Khobar |
477.8 |
553.5 |
+16% |
228.3 |
286.4 |
+25% |
|
Dammam |
555.6 |
558.9 |
+1% |
346.2 |
183.3 |
(47%) |
|
Al Ahsa |
256.3 |
500.2 |
+95% |
55.5 |
104.3 |
+88% |
|
Al Madinah |
686.5 |
456.9 |
(33%) |
124.5 |
127.2 |
+2% |
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