AI Summary
The value of real estate transactions in Saudi Arabia grew by 8 percent year-on-year (YoY) to SAR 23.8 billion in the month ending Dec. 18 (Rabi Al-Awwal), new figures from the Kingdom’s justice ministry showed.
This value was the highest in 19 months, when it hit nearly SAR 28 billion.
Since Sept. 21 - which marks the Hijri year beginning - the total value of property deals declined 6 percent YoY, or SAR 3.5 billion, to SAR 56 billion.
|
Total Value of Real Estate Market Transactions (SAR bln) |
|||
|
Month |
2016/2017 (1438) |
2017/2018 (1439) |
Variation |
|
Sept.-Oct. (Muharram) |
20.9 |
14.8 |
(29%) |
|
Oct.- Nov. (Safar) |
16.5 |
17.4 |
+5% |
|
Nov.- Dec. (Rabi Al Awwal) |
22.1 |
23.8 |
+8% |
|
Dec. –Jan. (Rabi Al Thani) |
17.2 |
-- |
-- |
|
Jan. -Feb. (Jumada Al Awwal) |
16.7 |
-- |
-- |
|
Feb.- March (Jumada Al Thani) |
19.6 |
-- |
-- |
|
March- April (Rajab) |
17.8 |
-- |
-- |
|
April- May (Sha’ban) |
19.0 |
-- |
--- |
|
May- June (Ramadan) |
12.6 |
-- |
-- |
|
June- July (Shawwal) |
11.6 |
-- |
-- |
|
July- Aug. (Dhul Qa’dah |
21.6 |
-- |
-- |
|
Aug.- Sept. (Dhul Hijjah) |
7.8 |
-- |
-- |
|
Total |
203.3 |
-- |
-- |
In the one-month period, the value was driven by residential deals, which jumped 27 percent YoY to a 19-month high at SAR 16.2 billion.
Commercial transactions, however, fell by 18 percent to SAR 7.7 billion compared to the same period last year.
|
Total Value of Real Estate Market Transactions (SAR bln) |
||||||
|
|
Residential |
Commercial |
||||
|
Month |
2016/2017 (1438) |
2017/2018 (1439) |
Variation |
2016/2017 (1438) |
2017/2018 (1439) |
Variation |
|
Sept.-Oct. (Muharram) |
11.3 |
10.5 |
(7%) |
9.6 |
4.3 |
(55%) |
|
Oct.- Nov. (Safar) |
11.2 |
12.9 |
+15% |
5.3 |
4.5 |
(15%) |
|
Nov.- Dec. (Rabi Al Awwal) |
12.8 |
16.2 |
+127% |
9.4 |
7.7 |
(18%) |
|
Dec. –Jan. (Rabi Al Thani) |
11.3 |
-- |
-- |
5.9 |
-- |
-- |
|
Jan. -Feb. (Jumada Al Awwal) |
11.2 |
-- |
-- |
5.6 |
-- |
-- |
|
Feb.- March (Jumada Al Thani) |
12.6 |
-- |
-- |
7.0 |
-- |
-- |
|
March- April (Rajab) |
12.3 |
-- |
-- |
5.5 |
-- |
-- |
|
April- May (Sha’ban) |
13.8 |
-- |
-- |
5.1 |
-- |
-- |
|
May- June (Ramadan) |
8.8 |
-- |
-- |
3.8 |
-- |
-- |
|
June- July (Shawwal) |
6.6 |
-- |
-- |
5.0 |
-- |
-- |
|
July- Aug. (Dhul Qa’dah |
12.5 |
-- |
-- |
9.0 |
-- |
-- |
|
Aug.- Sept. (Dhul Hijjah) |
5.2 |
-- |
-- |
2.5 |
-- |
-- |
|
Total |
129.6 |
-- |
-- |
73.7 |
-- |
-- |
Land deals dominated, with SAR 20.9 billion worth of deals accounting for 88 percent of total real estate transactions. Agricultural land deals came second, amounting to SAR 974.7 million.
|
Real Estate Market Transactions by Type in Nov./Dec. 2017 (Rabi Al Awwal) (SAR mln) |
||||||
|
|
Residential |
Commercial |
||||
|
Type |
2016/2017 (1438) |
2017/2018 (1439) |
Variation |
2016/2017 (1438) |
2017/2018 (1439) |
Variation |
|
Plot of land |
11,229.0 |
14,047.4 |
+25% |
9,114.2 |
6,898.7 |
(24%) |
|
Agricultural land |
246.0 |
808.7 |
+229% |
148.9 |
166.1 |
+12% |
|
Apartment |
922.0 |
935.5 |
+1% |
22.7 |
36.7 |
+62% |
|
Utility |
60.2 |
21.5 |
(64%) |
-- |
375.6 |
-- |
|
Shopping mall |
12.6 |
21.3 |
+69% |
15.0 |
148.7 |
+891% |
|
Show room/shop |
100.2 |
113.2 |
+13% |
5.2 |
21.6 |
+315% |
|
House |
60.1 |
112.0 |
+86% |
6.5 |
1.8 |
(72%) |
|
Villa |
106.6 |
83.9 |
(21%) |
18.4 |
4.9 |
(73%) |
|
Building |
33.7 |
21.4 |
(36%) |
25.6 |
5.4 |
(79%) |
|
Chalet |
1.6 |
1.3 |
(19%) |
-- |
-- |
-- |
|
Palace |
-- |
-- |
-- |
-- |
0.1 |
-- |
|
Total |
12,771.9 |
16,166.1 |
+27% |
9,356.5 |
7,659.7 |
(18%) |
The capital city of Riyadh saw the most residential real estate transactions, amounting to SAR 6.01 billion— a rise of 45 percent YoY for the same month.
Jeddah came second with SAR 2.14 billion worth of deals, a 5 percent drop YoY.
Meanwhile, Riyadh also took the lead in commercial deals, which edged up 0.2 percent YoY to SAR 4.03 billion.
|
Real Estate Transactions in Major Cities in Nov./Dec. 2017 (Rabi Al Awwal) (SAR bln) |
||||||
|
|
Residential |
Commercial |
||||
|
City |
2016/2017 (1438) |
2017/2018 (1439) |
Variation |
2016/2017 (1438) |
2017/2018 (1439) |
Variation |
|
Riyadh |
4.15 |
6.01 |
+45% |
4.02 |
4.03 |
+0.2% |
|
Jeddah |
2.26 |
2.14 |
(5%) |
2.55 |
0.96 |
(62%) |
|
Medina |
0.49 |
1.45 |
+196% |
0.31 |
0.61 |
+97% |
|
Dammam |
0.75 |
0.90 |
+20% |
0.59 |
0.66 |
+12% |
|
Mecca |
2.08 |
1.13 |
(46%) |
0.17 |
0.15 |
(12%) |
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