The value of real estate transactions in Saudi Arabia in the month ending Oct. 12 (Muharram) dropped 35 percent year-on-year (YoY) to SAR 9.6 billion, data issued by the justice ministry showed.
The value of property deals dropped for 1439 Hijri by SAR 31.1 billion, or 15 percent YoY, as it continues the downtrend for the fourth consecutive year.
|
Total Value of Real Estate Market Transactions (SAR bln) |
|||
|
Month |
2017/2018 (1439) |
2018/2019 (1440) |
Variation |
|
Sept.-Oct. (Muharram) |
14.8 |
9.6 |
(35%) |
|
Oct.- Nov. (Safar) |
17.4 |
-- |
-- |
|
Nov.- Dec. (Rabi Al Awwal) |
23.6 |
-- |
-- |
|
Dec. –Jan. (Rabi Al Thani) |
34.3 |
-- |
-- |
|
Jan. -Feb. (Jumada Al Awwal) |
12.5 |
-- |
-- |
|
Feb.- March (Jumada Al Thani) |
12.1 |
-- |
-- |
|
March- April (Rajab) |
11.6 |
-- |
-- |
|
April- May (Sha’ban) |
11.6 |
-- |
-- |
|
May- June (Ramadan) |
10.2 |
-- |
-- |
|
June- July (Shawwal) |
7.8 |
-- |
-- |
|
July- Aug. (Dhul Qa’dah) |
10.6 |
-- |
-- |
|
Aug.- Sept. (Dhul Hijjah) |
5.2 |
-- |
-- |
|
Total |
172.0 |
-- |
-- |
The decline in real estate deals for Muharram 1440 Hijri was attributed to a decline in residential and commercial deals by 32 percent and 44 percent, respectively.
|
Total Value of Real Estate Market Transactions (SAR bln) |
||||||
|
|
Residential |
Commercial |
||||
|
Month |
2017/2018 (1439) |
2018/2019 (1440) |
Variation |
2017/2018 (1439) |
2018/2019 (1440) |
Variation |
|
Sept.-Oct. (Muharram) |
10.5 |
7.2 |
(32%) |
4.3 |
2.4 |
(44%) |
|
Oct.- Nov. (Safar) |
12.9 |
-- |
-- |
4.5 |
-- |
-- |
|
Nov.- Dec. (Rabi Al Awwal) |
16.0 |
-- |
-- |
7.6 |
-- |
-- |
|
Dec. –Jan. (Rabi Al Thani) |
18.6 |
-- |
-- |
15.8 |
-- |
-- |
|
Jan. -Feb. (Jumada Al Awwal) |
8.7 |
-- |
-- |
3.8 |
-- |
-- |
|
Feb.- March (Jumada Al Thani) |
9.2 |
-- |
-- |
2.9 |
-- |
-- |
|
March- April (Rajab) |
9.3 |
-- |
-- |
2.3 |
-- |
-- |
|
April- May (Sha’ban) |
8.8 |
-- |
-- |
2.8 |
-- |
-- |
|
May- June (Ramadan) |
5.8 |
-- |
-- |
4.4 |
-- |
-- |
|
June- July (Shawwal) |
6.6 |
-- |
-- |
1.2 |
-- |
-- |
|
July- Aug. (Dhul Qa’dah |
7.2 |
-- |
-- |
3.3 |
-- |
-- |
|
Aug.- Sept. (Dhul Hijjah) |
4.0 |
-- |
-- |
1.2 |
-- |
-- |
|
Total |
117.8 |
-- |
-- |
54.2 |
-- |
-- |
Land sale transactions (residential and commercial) accounted for 88 percent of total real estate deals at SAR 8.4 billion for the month, followed by apartment sales with a value of SAR 486.9 million.
|
Real Estate Market Transactions by Type in Sept./Oct. (Muharram) (SAR mln) |
||||||
|
|
Residential |
Commercial |
||||
|
Type |
2017 (1439) |
2018 (1440) |
Variation |
2017 (1439) |
2018 (1440) |
Variation |
|
Plot of land |
8,997.9 |
6,106.6 |
(32%) |
4,155.8 |
2,315.6 |
(44%) |
|
Apartment |
837.4 |
472.8 |
(44%) |
32.7 |
14.1 |
(57%) |
|
Agricultural land |
269.0 |
236.4 |
(12%) |
127.9 |
88.4 |
(31%) |
|
Villa |
75.5 |
188.9 |
+150% |
5.8 |
2.6 |
(55%) |
|
Show room/shop |
104.6 |
103.6 |
(1%) |
8.2 |
0.7 |
(91%) |
|
House |
86.3 |
44.7 |
(48%) |
1.4 |
0.8 |
(43%) |
|
Building |
29.6 |
5.7 |
(81%) |
5.7 |
0.5 |
(91%) |
|
Utility |
87.7 |
3.0 |
(97%) |
10.3 |
-- |
-- |
|
Chalet |
3.1 |
0.1 |
(97%) |
-- |
-- |
-- |
|
Total |
10,491.3 |
7,162.0 |
(32%) |
4,348.0 |
2,422.7 |
(44%) |
Riyadh saw the largest number of residential real estate deals during Muharram at SAR 2.19 billion— 38 percent lower than the same month of last year.
Jeddah came second with around SAR 976 million worth of deals, a 37 percent YoY drop.
In terms of commercial deals, Jeddah took the lead with SAR 725.5 million.
|
Real Estate Transactions in Major Cities in Sept./Oct. (Muharram) (SAR bln) |
||||||
|
|
Residential |
Commercial |
||||
|
City |
2017 (1439) |
2018 (1440) |
Variation |
2017 (1439) |
2018 (1440) |
Variation |
|
Riyadh |
3.55 |
2.19 |
(38%) |
1.54 |
0.59 |
(62%) |
|
Jeddah |
1.56 |
0.98 |
(37%) |
0.81 |
0.73 |
(10%) |
|
Dammam |
0.79 |
0.55 |
(30%) |
0.64 |
0.08 |
(88%) |
|
Makkah |
0.79 |
0.49 |
(38%) |
0.13 |
0.15 |
+15% |
|
Al Khobar |
0.38 |
0.27 |
(29%) |
0.24 |
0.24 |
-- |
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