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Saudi retail mortgage loans surge 79% to SAR 15.27 bln in November: SAMA
Mortgage loans provided to retail clients by banks in Saudi Arabia surged 79% year-on-year (YoY) to SAR 15.27 billion in November 2020, data issued by the Saudi Central Bank (SAMA) showed.
When compared to the previous month, mortgage loans grew by around SAR 3.12 billion in November.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period |
2019 |
2020 |
Variation |
|
January |
4462 |
9692 |
+ 117% |
|
February |
4271 |
10590 |
+ 148 % |
|
March |
5267 |
10894 |
+ 107 % |
|
April |
6148 |
7650 |
+ 24 % |
|
May |
5252 |
7791 |
+48% |
|
June |
4097 |
13120 |
+220% |
|
July |
6762 |
10776 |
+59% |
|
August |
4892 |
9866 |
+102% |
|
September |
6640 |
12993 |
+96% |
|
October |
8721 |
12148 |
+39% |
|
November |
8523 |
15266 |
+79% |
|
December |
9314 |
-- |
-- |
*Does not include interest
Villa mortgages came on top, accounting for 81%, or SAR 12.38 billion of total housing loans provided in November.
Apartments and land plots followed with SAR 2.18 billion and SAR 700 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 |
|
September |
10490 |
1863 |
640 |
|
October |
9897 |
1597 |
654 |
|
November |
12383 |
2184 |
700 |
*Does not include interest
A total of 30,017 contracts were signed between banks and retail clients in the same month, a rise of 53% YoY.
|
Number of New Retail Housing Loans Contracts By Banks (SAR mln)* |
|||
|
Period |
2019 |
2020 |
Variation |
|
January |
9054 |
23471 |
159% |
|
February |
9044 |
24676 |
173% |
|
March |
11505 |
23141 |
101% |
|
April |
13765 |
17856 |
30 % |
|
May |
12068 |
15462 |
28 % |
|
June |
9117 |
26137 |
187 % |
|
July |
15018 |
23909 |
59 % |
|
August |
11737 |
21755 |
85 % |
|
September |
16012 |
27390 |
71 % |
|
October |
20888 |
25483 |
22 % |
|
November |
19659 |
30017 |
53 % |
|
December |
22411 |
-- |
-- |
*Does not include interest
Financing firms provided new mortgages for residential units worth SAR 436 million in November, a decline of 21% 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 |
436 |
(21%) |
|
December |
569 |
-- |
-- |
*Does not include interest
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