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Saudi retail mortgage loans surge 39% to SAR 12.15 bln in October: SAMA
Mortgage loans provided to retail clients by banks in Saudi Arabia surged 39% year-on-year (YoY) to SAR 12.15 billion in October 2020, data issued by the Saudi Central Bank (SAMA) showed.
When compared to September, mortgage loans grew by around SAR 845 million YoY.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period |
2019 |
2020 |
Variation |
|
January |
4,431 |
9,692 |
+119% |
|
February |
4,224 |
10,590 |
+151% |
|
March |
5,199 |
10,894 |
+110% |
|
April |
6,035 |
7,650 |
+27% |
|
May |
5,252 |
7,791 |
+48% |
|
June |
4,097 |
13,120 |
+220% |
|
July |
6,762 |
10,776 |
+59% |
|
August |
4,892 |
9,866 |
+102% |
|
September |
6,640 |
12,993 |
+96% |
|
October |
8,721 |
12,148 |
+39% |
|
November |
8,523 |
-- |
-- |
|
December |
9,314 |
-- |
-- |
*Doesn’t include interest
Villa mortgages came on top, accounting for 81%, or SAR 9.90 billion of total housing loans provided in October.
Apartments and land plots followed with SAR 1.60 billion and SAR 654 million, respectively.
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2020 |
7,750 |
1,270 |
672 |
|
February |
8,460 |
1,418 |
711 |
|
March |
8,701 |
1,714 |
479 |
|
April |
6,287 |
1,041 |
322 |
|
May |
6,217 |
1,237 |
337 |
|
June |
11,012 |
1,367 |
741 |
|
July |
8,559 |
1,572 |
645 |
|
August |
7,788 |
1,518 |
561 |
|
September |
10,490 |
1,863 |
640 |
|
October |
9,897 |
1,597 |
654 |
*Doesn’t include interest
A total of 25,483 contracts were signed between banks and retail clients in the same month, a rise of 22% YoY.
|
Number of New Retail Housing Loans Contracts By Banks (SAR mln)* |
|||
|
Period |
2019 |
2020 |
Variation |
|
January |
9,062 |
23,471 |
+159% |
|
February |
9,049 |
24,676 |
+173% |
|
March |
11,506 |
23,141 |
+101% |
|
April |
13,712 |
17,856 |
+30% |
|
May |
12,068 |
15,462 |
+28% |
|
June |
9,117 |
26,137 |
+187% |
|
July |
15,018 |
23,909 |
+59% |
|
August |
11,737 |
21,755 |
+85% |
|
September |
16,012 |
27,390 |
+71% |
|
October |
20,888 |
25,483 |
+22% |
|
November |
19,659 |
-- |
-- |
|
December |
22,411 |
-- |
-- |
*Doesn’t include interest
Financing firms provided new mortgages for residential units worth SAR 342 million in October, a decline of 39% YoY.
|
Number of New Retail Housing Loans Contracts By Financing Companies (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 |
339 |
(30%) |
|
October |
562 |
342 |
(39%) |
|
November |
549 |
-- |
-- |
|
December |
569 |
-- |
-- |
*Doesn’t include interest.
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