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Saudi retail mortgage loans surge 30% to SAR 13.75 bln in February: SAMA
Saudi Riyal
Mortgage loans provided to retail clients by banks in Saudi Arabia surged 30% year-on-year (YoY) to SAR 13.75 billion in February 2021, data issued by the Saudi Central Bank (SAMA) showed.
When compared to the previous month, mortgage loans fell by around SAR 2.29 billion in February.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period |
2020 |
2021 |
Variation |
|
January |
9,692 |
16,041 |
+66% |
|
February |
10,590 |
13,748 |
+30% |
|
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 80%, or SAR 11.05 billion of total housing loans provided in February.
Apartments and land plots followed with SAR 2.09 billion and SAR 610 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 |
|
December |
12721 |
2013 |
678 |
|
January 2021 |
12644 |
2417 |
980 |
|
February |
11047 |
2092 |
610 |
*Does not include interest
A total of 26,400 contracts were signed between banks and retail clients in the same month, a rise of 7% 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 |
26,376 |
7% |
|
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 380 million in January, a decline of 17% YoY.
|
Number of New Retail Housing Loans Contracts By Financing Companies (SAR mln)* |
|||
|
Period |
2020 |
2021 |
Variation |
|
January |
565 |
391 |
(31%) |
|
February |
459 |
380 |
(17%) |
|
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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