AI Summary
Saudi Arabian banknotes
The following table details the value of residential retail mortgages:
|
New Residential Mortgages by Banks* |
|||
|
Month |
2023 |
2024 |
Change |
|
January |
8,373 |
7,539 |
(10%) |
|
February |
7,138 |
6,941 |
(3%) |
|
March |
7,251 |
7,623 |
+5% |
|
April |
4,146 |
5,341 |
+29% |
|
May |
6,801 |
7,674 |
+13% |
|
June |
5,969 |
5,307 |
(11%) |
|
July |
5,425 |
-- |
-- |
|
August |
7,142 |
-- |
-- |
|
September |
5,837 |
-- |
-- |
|
October |
6,766 |
-- |
-- |
|
November |
6,655 |
-- |
-- |
|
December |
6,237 |
-- |
-- |
|
Total |
8,373 |
7,539 |
-- |
Mortgages granted for the purchase of villas took the lion’s share of total housing loans provided to individuals in June 2024 at 65% (SAR 3.4 billion). Apartments and land plots followed with SAR 1.62 billion and SAR 263 million, respectively, as indicated below:
|
New Residential Mortgages by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Lands |
|
January 2023 |
5,645 |
2,315 |
413 |
|
February |
4,964 |
1,823 |
351 |
|
March |
5,048 |
1,745 |
457 |
|
April |
2,781 |
1,050 |
314 |
|
May |
4,684 |
1,734 |
383 |
|
June |
4,244 |
1,429 |
297 |
|
July |
3,897 |
1,226 |
301 |
|
August |
4,967 |
1,776 |
399 |
|
September |
3,978 |
1,563 |
297 |
|
October |
4,455 |
1,943 |
367 |
|
November |
4,363 |
1,964 |
328 |
|
December |
4,307 |
1,676 |
255 |
|
January 2024 |
5,132 |
1,967 |
440 |
|
February |
4,529 |
1,980 |
433 |
|
March |
4,912 |
2,237 |
474 |
|
April |
3,681 |
1,389 |
270 |
|
May |
5,114 |
2,153 |
408 |
|
June |
3,427 |
1,616 |
263 |
According to SAMA, as many as 727,000 mortgage contracts were signed between banks and retail clients in June 2024, a decline of 4% YoY.
|
New Residential Mortgages Contracts by Banks |
|||
|
Month |
2023 |
2024 |
Change |
|
January |
11113 |
10505 |
(5%) |
|
February |
9574 |
9504 |
(1%) |
|
March |
9526 |
10320 |
+8% |
|
April |
5270 |
7085 |
+34% |
|
May |
8888 |
10123 |
+14% |
|
June |
7615 |
7274 |
(4%) |
|
July |
7058 |
-- |
-- |
|
August |
9054 |
-- |
-- |
|
September |
7767 |
-- |
-- |
|
October |
9177 |
-- |
-- |
|
November |
9164 |
-- |
-- |
|
December |
8647 |
-- |
-- |
Financing firms provided new residential real estate loans worth SAR 160 million in June 2024, a decline of 19% YoY.
|
New Residential Mortgages by Financing Firms (SAR mln)* |
|||
|
Month |
2023 |
2024 |
Change |
|
January |
310 |
273 |
(12%) |
|
February |
284 |
268 |
(6%) |
|
March |
228 |
225 |
(1%) |
|
April |
167 |
143 |
(14%) |
|
May |
235 |
252 |
+7% |
|
June |
198 |
160 |
(19%) |
|
July |
193 |
-- |
-- |
|
August |
307 |
-- |
-- |
|
September |
265 |
-- |
-- |
|
October |
289 |
-- |
-- |
|
November |
310 |
-- |
-- |
|
December |
272 |
-- |
-- |
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