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Saudi Arabia's real estate deals fall 36% to SAR 9.7 bln last month
The value of Saudi Arabia's real estate transactions plunged 36% year-on-year (YoY) to SAR 9.7 billion in September-October 2020 (Safar 1442 Hijri year), Saudi Justice Ministry's data showed.
The real estate deals fell by 17%, or SAR 2.01 billion, month-on-month (MoM).
The number of the real estate transactions in September-October stood at around 20,000, down from nearly 30,600 a year earlier. The number of properties sold also retreated to 20,900.
|
Total Value of Real Estate Market Transactions (SAR bln) |
|||
|
Month* |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
|
Aug.-Sept. (Muharram) |
16.2 |
11.7 |
(28%) |
|
Sept.-Oct. (Safar) |
15.2 |
9.7 |
(36%) |
|
Oct.- Nov. (Rabi Al Awwal) |
14.7 |
-- |
-- |
|
Nov.- Dec. (Rabi Al Thani) |
13.9 |
-- |
-- |
|
Dec. -Jan. (Jumada Al Awwal) |
13.0 |
-- |
-- |
|
Jan. -Feb. (Jumada Al Thani) |
19.0 |
-- |
-- |
|
Feb.- March (Rajab) |
13.4 |
-- |
-- |
|
March- April (Sha’ban) |
3.8 |
-- |
-- |
|
April- May (Ramadan) |
5.5 |
-- |
-- |
|
May- June (Shawwal) |
13.7 |
-- |
-- |
|
June- July (Dhul Qa’dah) |
25.7 |
-- |
-- |
|
July- Aug. (Dhul Hijjah) |
5.8 |
-- |
-- |
|
Total |
160.0 |
-- |
-- |
*Updated data.
Residential deals slumped 45% YoY to SAR 6.78 billion, and similarly, the value of the commercial deals declined by 8% YoY to SAR 2.37 billion. The agricultural deals were valued at nearly SAR 559.1 million last month.
The residential deals represented 69.8% of total real estate deals last month.
|
Real Estate Market Transactions in Detail (SAR bln) |
||||||
|
Residential |
Commercial |
|||||
|
Month |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
|
Aug.-Sept. (Muharram) |
12.63 |
8.36 |
(34%) |
3.31 |
2.61 |
(21%) |
|
Sept.-Oct. (Safar) |
12.33 |
6.78 |
(45%) |
2.58 |
2.37 |
(8%) |
|
Oct.- Nov. (Rabi Al Awwal) |
11.59 |
-- |
-- |
2.62 |
-- |
-- |
|
Nov.- Dec. (Rabi Al Thani) |
9.75 |
-- |
-- |
3.78 |
-- |
-- |
|
Dec. –Jan. (Jumada Al Awwal) |
10.16 |
-- |
-- |
2.52 |
-- |
-- |
|
Jan. -Feb. (Jumada Al Thani) |
14.56 |
-- |
-- |
3.98 |
-- |
-- |
|
Feb.- March (Rajab) |
9.88 |
-- |
-- |
3.30 |
-- |
-- |
|
March- April (Sha’ban) |
3.34 |
-- |
-- |
0.40 |
-- |
-- |
|
April- May (Ramadan) |
4.56 |
-- |
-- |
0.75 |
-- |
-- |
|
May- June (Shawwal) |
8.68 |
-- |
-- |
4.35 |
-- |
-- |
|
June- July (Dhul Qa’dah) |
17.05 |
-- |
-- |
6.78 |
-- |
-- |
|
July- Aug. (Dhul Hijjah) |
4.19 |
-- |
-- |
1.14 |
-- |
-- |
|
Total |
118.72 |
-- |
-- |
35.51 |
-- |
-- |
Land sale transactions accounted for nearly 92%, or SAR 8.97 billion, of the total realty deals in September-October 2020, followed by the agricultural land sales with a value of SAR 327.9 million.
|
Real Estate Market Property by Type (SAR mln) |
||||||
|
Residential |
Commercial |
|||||
|
Type |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
|
Plot of land |
10,271.5 |
6,372.5 |
(38%) |
2,544.6 |
2,353.0 |
(8%) |
|
Agricultural land |
16.2 |
10.6 |
(35%) |
1.8 |
0.8 |
(56%) |
|
Apartment |
940.7 |
254.4 |
(73%) |
19.3 |
12.4 |
(36%) |
|
Show room/shop |
86.5 |
47.0 |
(46%) |
0.3 |
3.5 |
1,067% |
|
Villa |
170.4 |
42.5 |
(75%) |
8.2 |
2.0 |
(76%) |
|
House |
63.7 |
22.2 |
(65%) |
7.0 |
0.3 |
(96%) |
|
Utility |
759.4 |
20.6 |
(97%) |
-- |
-- |
-- |
|
Building |
14.6 |
7.3 |
(50%) |
2.1 |
0.2 |
(90%) |
|
Palace |
-- |
2.2 |
-- |
-- |
-- |
-- |
|
Chalet |
2.4 |
-- |
-- |
-- |
-- |
-- |
|
Shopping mall |
6.5 |
-- |
-- |
-- |
-- |
-- |
|
Total |
12,332.0 |
6,779.4 |
(45%) |
2,583.3 |
2,372.1 |
(8%) |
Land space rose 9% YoY to 117.8 million square meters last month.
|
Total area of Real Estate Market Transactions (mln sqm) |
|||
|
Month |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
|
Aug.-Sept. (Muharram) |
63.03 |
158.00 |
+ 151% |
|
Sept.-Oct. (Safar) |
107.97 |
117.78 |
+ 9% |
|
Oct.- Nov. (Rabi Al Awwal) |
72.52 |
-- |
-- |
|
Nov.- Dec. (Rabi Al Thani) |
54.26 |
-- |
-- |
|
Dec. –Jan. (Jumada Al Awwal) |
77.46 |
-- |
-- |
|
Jan. -Feb. (Jumada Al Thani) |
118.60 |
-- |
-- |
|
Feb.- March (Rajab) |
69.76 |
-- |
-- |
|
March- April (Sha’ban) |
3.40 |
-- |
-- |
|
April- May (Ramadan) |
6.19 |
-- |
-- |
|
May- June (Shawwal) |
58.36 |
-- |
-- |
|
June- July (Dhul Qa’dah) |
179.01 |
-- |
-- |
|
July- Aug. (Dhul Hijjah) |
81.37 |
-- |
-- |
|
Total |
891.92 |
-- |
-- |
*Updated data.
Riyadh saw the largest number of real estate deals at SAR 3.26 billion. It was followed by Jeddah with SAR 1.98 billion worth of deals.
|
Real Estate Transactions in Major Cities in September-October (Safar) (SAR bln) |
||||||
|
Residential |
Commercial |
|||||
|
City |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
|
Riyadh |
4,328.2 |
2,324.8 |
(46%) |
1,166.2 |
935.1 |
(20%) |
|
Jeddah |
1,779.0 |
1,262.8 |
(29%) |
394.7 |
718.3 |
+ 82% |
|
Dammam |
591.6 |
361.4 |
(39%) |
163.0 |
84.3 |
(48%) |
|
Al Khobar |
357.1 |
360.8 |
+ 1 % |
113.3 |
76.5 |
(32%) |
|
Makkah |
963.7 |
367.9 |
(62%) |
97.8 |
32.0 |
(67%) |
|
Al Madinah |
454.1 |
255.2 |
(44%) |
98.8 |
54.6 |
(45%) |
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