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Saudi retail mortgage loans leap 102% to SAR 9.87 bln in August: SAMA
Mortgage loans provided to retail clients by banks in Saudi Arabia surged by 102% year-on-year (YoY) to SAR 9.87 billion in August 2020, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.
When compared to July, mortgage loans declined by around SAR 910 million YoY.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period** |
2019 |
2020 |
Variation |
|
January |
4431 |
9692 |
+119% |
|
February |
4224 |
10590 |
+151% |
|
March |
5199 |
10894 |
+110% |
|
April |
6035 |
7650 |
+27% |
|
May |
5252 |
7791 |
+48% |
|
June |
4097 |
13120 |
+220% |
|
July |
6762 |
10776 |
+59% |
|
August |
4892 |
9866 |
+102% |
|
September |
6640 |
-- |
-- |
|
October |
8721 |
-- |
-- |
|
November |
8523 |
-- |
-- |
|
December |
9314 |
-- |
-- |
*Does not include interest
**Updated data from May 2019 through June 2020
Villa mortgages came on top, accounting for 79%, or SAR 7.79 billion, of total housing loans provided in August.
Apartments and land plots followed with SAR 1.52 billion and SAR 561 million, respectively.
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period** |
Villas |
Apartments |
Land |
|
January 2020 |
7750 |
1270 |
672 |
|
February |
8460 |
1418 |
711 |
|
March |
8701 |
1714 |
479 |
|
April |
6287 |
1041 |
322 |
|
May |
6217 |
1237 |
337 |
|
June |
11012 |
1367 |
741 |
|
July |
8559 |
1572 |
645 |
|
August |
7788 |
1518 |
561 |
*Does not include interest
**Updated data until June 2020
A total of 21,755 contracts were signed between banks and retail clients in August, a rise of 85% YoY.
|
Number of New Retail Housing Loans Contracts by Banks* |
|||
|
Period** |
2019 |
2020 |
Variation |
|
January |
9062 |
23471 |
+159% |
|
February |
9049 |
24676 |
+173% |
|
March |
11506 |
23141 |
+101% |
|
April |
13712 |
17856 |
+30% |
|
May |
12068 |
15462 |
+28% |
|
June |
9117 |
26137 |
+187% |
|
July |
15018 |
23909 |
+59% |
|
August |
11737 |
21755 |
+85% |
|
September |
16012 |
-- |
-- |
|
October |
20888 |
-- |
-- |
|
November |
19659 |
-- |
-- |
|
December |
22411 |
-- |
-- |
*Does not include interest
**Updated data from May 2019 through June 2020
Financing firms provided new mortgages for residential units worth SAR 261 million in August a decline of 21% YoY.
|
Number of New Retail Housing Loans Contracts by Banks (SAR mln)* |
|||
|
Period |
2019 |
2020 |
Variation |
|
January |
335 |
565 |
+69% |
|
February |
397 |
459 |
+15% |
|
March |
361 |
325 |
(10%) |
|
April |
384 |
90 |
(77%) |
|
May |
466 |
201 |
(57%) |
|
June |
311 |
742 |
+139% |
|
July |
522 |
350 |
(33%) |
|
August |
332 |
261 |
(21%) |
|
September |
483 |
-- |
-- |
|
October |
562 |
-- |
-- |
|
November |
549 |
-- |
-- |
|
December |
569 |
-- |
-- |
*Doesn’t include interest
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