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Saudi retail mortgage loans surge 66% to SAR 16 bln in January: SAMA
Mortgage loans provided to retail clients by banks in Saudi Arabia surged 66% year-on-year (YoY) to SAR 16.04 billion in January 2021, data issued by the Saudi Central Bank (SAMA) showed.
When compared to the previous month, mortgage loans grew by around SAR 629 million in January.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period |
2020 |
2021 |
Variation |
|
January |
9,692 |
16,041 |
+66% |
|
February |
10,590 |
-- |
-- |
|
March |
10,894 |
-- |
-- |
|
April |
7,650 |
-- |
-- |
|
May |
7,791 |
-- |
-- |
|
June |
13,120 |
-- |
-- |
|
July |
10,776 |
-- |
-- |
|
August |
9,866 |
-- |
-- |
|
September |
12,993 |
-- |
-- |
|
October |
12,148 |
-- |
-- |
|
November |
15,266 |
-- |
-- |
|
December |
15,412 |
-- |
-- |
*Does not include interest
Villa mortgages came on top, accounting for 79%, or SAR 12.64 billion of total housing loans provided in January.
Apartments and land plots followed with SAR 2.42 billion and SAR 980 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 |
|
November |
12,383 |
2,184 |
700 |
|
December |
12,721 |
2,013 |
678 |
|
January 2021 |
12,644 |
2,417 |
980 |
*Does not include interest
A total of 32,330 contracts were signed between banks and retail clients in the same month, a rise of 38% YoY.
|
Number of New Retail Housing Loans Contracts By Banks (SAR mln)* |
|||
|
Period |
2020 |
2021 |
Variation |
|
January |
23,471 |
32,330 |
38% |
|
February |
24,676 |
-- |
-- |
|
March |
23,141 |
-- |
-- |
|
April |
17,856 |
-- |
-- |
|
May |
15,462 |
-- |
-- |
|
June |
26,137 |
-- |
-- |
|
July |
23,909 |
-- |
-- |
|
August |
21,755 |
-- |
-- |
|
September |
27,390 |
-- |
-- |
|
October |
25,483 |
-- |
-- |
|
November |
30,017 |
-- |
-- |
|
December |
29,960 |
-- |
-- |
*Does not include interest
Financing firms provided new mortgages for residential units worth SAR 391 million in January, a decline of 31% YoY.
|
Number of New Retail Housing Loans Contracts By Financing Companies (SAR mln)* |
|||
|
Period |
2020 |
2021 |
Variation |
|
January |
565 |
391 |
(31%) |
|
February |
459 |
-- |
-- |
|
March |
325 |
-- |
-- |
|
April |
90 |
-- |
-- |
|
May |
201 |
-- |
-- |
|
June |
742 |
-- |
-- |
|
July |
350 |
-- |
-- |
|
August |
261 |
-- |
-- |
|
September |
339 |
-- |
-- |
|
October |
342 |
-- |
-- |
|
November |
436 |
-- |
-- |
|
December |
441 |
-- |
-- |
*Does not include interest
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