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Saudi retail mortgage loans rise 26% to SAR 7.6 bln in April: SAMA
Mortgage loans provided to retail clients by banks in Saudi Arabia increased 26% year-on-year (YoY) to SAR 7.58 billion in April 2020, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.
When compared to March, mortgage loans dropped by around SAR 3.14 billion YoY.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period |
2019 |
2020 |
Variation |
|
January |
4431 |
9520 |
+115% |
|
February |
4224 |
10242 |
+142% |
|
March |
5199 |
10717 |
+106% |
|
April |
6035 |
7577 |
+26% |
|
May |
5187 |
-- |
-- |
|
June |
4051 |
-- |
-- |
|
July |
6678 |
-- |
-- |
|
August |
4903 |
-- |
-- |
|
September |
6642 |
-- |
-- |
|
October |
8716 |
-- |
-- |
|
November |
8503 |
-- |
-- |
|
December |
9289 |
-- |
-- |
*Does not include interest
Villa mortgages accounted for 83%, or SAR 6.26 billion of total housing loans provided in April.
Apartments and land plots followed with SAR 1.02 billion and SAR 294 million, respectively.
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2019 |
3520 |
562 |
349 |
|
February |
3436 |
466 |
322 |
|
March |
4218 |
549 |
432 |
|
April |
4910 |
636 |
489 |
|
May |
4223 |
610 |
354 |
|
June |
3208 |
524 |
319 |
|
July |
5279 |
830 |
569 |
|
August |
3928 |
605 |
370 |
|
September |
5417 |
736 |
489 |
|
October |
7070 |
1033 |
613 |
|
November |
6750 |
1214 |
539 |
|
December |
7631 |
1093 |
566 |
|
January 2020 |
7709 |
1242 |
569 |
|
February |
8259 |
1363 |
620 |
|
March |
8618 |
1683 |
416 |
|
April |
6262 |
1021 |
294 |
*Does not include interest
A total of 17,657 contracts were signed between banks and retail clients in April 2020, a rise of 29% YoY.
|
Number of New Retail Housing Loans Contracts by Banks (SAR mln)* |
|||
|
Period |
2019 |
2020 |
Variation |
|
January |
9062 |
22820 |
+152% |
|
February |
9049 |
23961 |
+165% |
|
March |
11506 |
22748 |
+ 98 % |
|
April |
13712 |
17657 |
+ 29 % |
|
May |
12071 |
-- |
-- |
|
June |
9122 |
-- |
-- |
|
July |
15025 |
-- |
-- |
|
August |
11747 |
-- |
-- |
|
September |
16016 |
-- |
-- |
|
October |
20894 |
-- |
-- |
|
November |
19657 |
-- |
-- |
|
December |
22414 |
-- |
-- |
*Does not include interest
Financing firms provided new mortgages for residential units worth SAR 90 million in April 2020, a decline of 77% YoY.
SAMA issued new directives in May 2018 obligating all banks and mortgage companies to provide mortgages to individuals, as per the due regulations.
|
Number of New Retail Housing Loans Contracts by Financing Companies (SAR mln)* |
|||
|
Period |
2019 |
2020 |
Variation |
|
January |
335 |
565 |
+68% |
|
February |
397 |
459 |
+16% |
|
March |
361 |
325 |
(10 %) |
|
April |
384 |
90 |
(77 %) |
|
May |
466 |
-- |
-- |
|
June |
311 |
-- |
-- |
|
July |
522 |
-- |
-- |
|
August |
332 |
-- |
-- |
|
September |
483 |
-- |
-- |
|
October |
562 |
-- |
-- |
|
November |
549 |
-- |
-- |
|
December |
569 |
-- |
-- |
*Does not include interest
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