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Saudi banks’ retail mortgage loans rise 83% to SAR 136.2 bln in 2020
Mortgage loans provided to retail clients by banks in Saudi Arabia saw an increase of 83% year-on-year (YoY) to SAR 136.2 billion during 2020, according to data issued by the Saudi Central Bank (SAMA).
|
New Retail Housing Loans (SAR bln)* |
||
|
Period |
Value |
Variation |
|
2016 |
14930 |
-- |
|
2017 |
18923 |
+27% |
|
2018 |
27015 |
+43% |
|
2019 |
74350 |
+175% |
|
2020 |
136199 |
83% |
Mortgage loans reported higher growth across the 12 months, led by June with a hike of 220% to SAR 13.1 billion.
Meanwhile, December posted the largest financing of SAR 15.4 billion over the last year.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period |
2019 |
2020 |
Variation |
|
January |
4462 |
9692 |
+119% |
|
February |
4271 |
10590 |
+151% |
|
March |
5267 |
10894 |
+110% |
|
April |
6148 |
7650 |
+27% |
|
May |
5252 |
7791 |
+28% |
|
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 |
15412 |
+65% |
|
Total |
74350 |
136199 |
+83% |
*Does not include interest
Villa mortgages accounted for 81%, or SAR 110.3 billion of total housing loans provided in 2020.
Apartments and land plots followed with SAR 18.8 billion and SAR 7.1 billion, 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 |
|
December |
12721 |
2013 |
678 |
|
Total |
110265 |
18794 |
7140 |
*Doesn’t include interest
According to SAMA, a total of 289,300 contracts were signed between banks and retail clients in 2020, a rise of 70% YoY.
|
Number of New Retail Housing Loans Contracts by Banks |
|||
|
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 |
29960 |
+34% |
|
Total |
170278 |
289257 |
+70% |
*Doesn’t include interest
Financing firms provided new mortgages for residential units worth SAR 4.55 billion in 2020, a drop of 14% YoY.
|
Number of New Retail Housing Loans Contracts by Financing Firms (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 |
441 |
(22%) |
|
Total |
5271 |
4551 |
(14%) |
*Doesn’t include interest
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