Riyadh city
The value of Saudi Arabia's real estate transactions declined by 16% to SAR 11.75 billion in May-June 2021 (Shawwal 1442 Hijri year), compared to SAR 13.98 billion in the corresponding period a year earlier, Saudi Justice Ministry's data showed.
The real estate deals went down by 22%, or SAR 3.33 billion, month-on-month (MoM).
The number of the real estate transactions in May-June stood at around 18,500, up from nearly 17,400 a year earlier. The number of properties sold also jumped to 19,800.
|
Total Value of Real Estate Market Transactions (SAR bln) |
|||
|
Month* |
2020/2021 (1441) |
2020/2021 (1442) |
Variation |
|
Aug. - Sept. (Muharram) |
16.63 |
13.11 |
(21%) |
|
Sept. - Oct. (Safar) |
15.66 |
11.76 |
(25%) |
|
Oct. - Nov. (Rabi Al Awwal) |
14.91 |
18.12 |
+ 22% |
|
Nov. - Dec. (Rabi Al Thani) |
14.35 |
18.67 |
+ 30% |
|
Dec. - Jan. (Jumada Al Awwal) |
13.35 |
14.44 |
+ 8% |
|
Jan. - Feb. (Jumada Al Thani) |
19.51 |
18.76 |
(4%) |
|
Feb. - March (Rajab) |
13.79 |
23.13 |
+ 68% |
|
March - April (Sha’ban) |
3.86 |
23.30 |
+ 504% |
|
April - May (Ramadan) |
5.64 |
15.08 |
+ 167% |
|
May - June (Shawwal) |
13.98 |
11.75 |
(16%) |
|
June - July (Dhul Qa’dah) |
26.51 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
5.85 |
-- |
-- |
*Updated data.
Residential deals dropped 20% year-on-year (YoY) to SAR 7.17 billion.
Similarly, the value of the commercial deals fell by 21% YoY to SAR 3.46 billion. The agricultural and industrial deals were valued at nearly SAR 1.12 billion last month.
The residential deals represented 61% of total real estate deals last month, while commercial deals and agricultural and industrial deals represented 29.5% and 9.5%, respectively.
|
Real Estate Market Transactions in Detail (SAR bln) |
||||||
|
Month* |
Residential |
Commercial |
||||
|
1441 |
1442 |
Variation |
1441 |
1442 |
Variation |
|
|
Aug. - Sept. (Muharram) |
13.04 |
9.63 |
(26%) |
3.22 |
2.69 |
(16%) |
|
Sept. - Oct. (Safar) |
12.76 |
8.11 |
(36%) |
2.58 |
3.02 |
+ 17% |
|
Oct. - Nov. (Rabi Al Awwal) |
11.88 |
10.50 |
(12%) |
2.68 |
6.75 |
+ 151% |
|
Nov. - Dec. (Rabi Al Thani) |
10.05 |
10.45 |
+ 4% |
3.90 |
6.63 |
+ 70% |
|
Dec. - Jan. (Jumada Al Awwal) |
10.43 |
9.45 |
(9%) |
2.61 |
3.42 |
+ 31% |
|
Jan. - Feb. (Jumada Al Thani) |
14.89 |
12.69 |
(15%) |
4.18 |
4.83 |
+ 16% |
|
Feb. - March (Rajab) |
10.17 |
14.42 |
+ 42% |
3.37 |
5.83 |
+ 73% |
|
March - April (Sha’ban) |
3.39 |
15.87 |
+ 368% |
0.40 |
5.44 |
-- |
|
April - May (Ramadan) |
4.68 |
9.56 |
+ 104% |
0.75 |
4.15 |
+ 449% |
|
May - June (Shawwal) |
8.96 |
7.17 |
(20%) |
4.39 |
3.46 |
(21%) |
|
June - July (Dhul Qa’dah) |
17.46 |
-- |
-- |
7.14 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
4.18 |
-- |
-- |
1.14 |
-- |
-- |
|
Total |
121.91 |
-- |
-- |
36.37 |
-- |
-- |
*Updated data.
Land sale transactions accounted for nearly 88.8%, or SAR 10.44 billion, of the total realty deals in May-June, followed by agricultural land sales with a value of SAR 776 million.
|
Real Estate Market Transactions by Type (SAR mln) |
||
|
Type |
Transaction Value |
Percentage to Total |
|
Land plot |
10437.5 |
88.8% |
|
Agricultural land |
776.0 |
6.6% |
|
Apartment |
220.4 |
1.9% |
|
Utility |
179.6 |
1.5% |
|
Showroom/shop |
47.7 |
0.4% |
|
Villa |
43.1 |
0.4% |
|
House |
35.6 |
0.3% |
|
Building |
6.4 |
0.1% |
|
Chalet |
1.5 |
0.0% |
|
Shopping mall |
0.3 |
-- |
|
Total |
11748.0 |
100% |
Land space amounted to 2.5 billion square meters (sqm) during May-June. It rose 474% to 335.1 million sqm compared to 58.4 million sqm in the same period a year earlier.
|
Total Area of Real Estate Market Transactions (mln sqm) |
|||
|
Month* |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
|
Aug. - Sept. (Muharram) |
63.18 |
177.50 |
+ 181% |
|
Sept. - Oct. (Safar) |
108.09 |
139.59 |
+ 29% |
|
Oct. - Nov. (Rabi Al Awwal) |
72.50 |
216.74 |
+ 199% |
|
Nov. - Dec. (Rabi Al Thani) |
54.42 |
222.66 |
+ 309% |
|
Dec. - Jan. (Jumada Al Awwal) |
77.58 |
165.25 |
+ 113% |
|
Jan. - Feb. (Jumada Al Thani) |
118.67 |
253.43 |
+ 114% |
|
Feb. - March (Rajab) |
69.87 |
288.06 |
+ 312% |
|
March - April (Sha’ban) |
3.42 |
386.97 |
-- |
|
April - May (Ramadan) |
6.23 |
344.32 |
-- |
|
May - June (Shawwal) |
58.42 |
335.08 |
+ 474% |
|
June - July (Dhul Qa’dah) |
179.17 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
81.25 |
-- |
-- |
|
Total |
892.80 |
2529.60 |
-- |
*Updated data.
Riyadh witnessed the largest number of real estate deals at SAR 4.63 billion. It was followed by Jeddah with SAR 1.67 billion worth of deals.
|
Real Estate Transactions in Major Cities in May-June (Shawwal) (SAR mln) |
||||||
|
City |
Residential |
Commercial |
||||
|
1441 |
1442 |
Variation |
1441 |
1442 |
Variation |
|
|
Riyadh |
2414.3 |
2902.8 |
+ 20% |
2751.0 |
1725.0 |
(37%) |
|
Jeddah |
1011.9 |
1084.1 |
+ 7% |
279.6 |
584.3 |
+ 109% |
|
Dammam |
468.3 |
297.4 |
(36%) |
221.7 |
272.9 |
+ 23% |
|
Al Khobar |
631.6 |
394.5 |
(38%) |
393.0 |
159.3 |
(59%) |
|
Makkah |
1368.0 |
315.3 |
(77%) |
59.8 |
53.5 |
(11%) |
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