Mortgage loans provided to retail clients by banks in Saudi Arabia surged 82% year-on-year (YoY) to SAR 13.93 billion in April 2021, data issued by the Saudi Central Bank (SAMA) showed.
When compared to the previous month, mortgage loans fell by around SAR 3.01 billion in April.
|
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 |
16,946 |
+56% |
|
April |
7,650 |
13,932 |
+82% |
|
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 81%, or SAR 11.22 billion, of total housing loans provided in April.
Apartments and land plots followed with SAR 2.36 billion and SAR 350 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 |
|
March |
13681 |
2568 |
697 |
|
April |
11220 |
2361 |
350 |
*Does not include interest
A total of 25,300 contracts were signed between banks and retail clients in the same month, a rise of 42% YoY.
On a monthly basis, the number of contracts signed between banks and retail clients in April fell by 20%, or 6,500 contracts, reaching its lowest level since August 2020.
|
Number of New Retail Housing Loans Contracts By Banks (SAR mln)* |
|||
|
Period |
2020 |
2021 |
Variation |
|
January |
23471 |
32330 |
+38% |
|
February |
24676 |
26376 |
+7% |
|
March |
23141 |
31826 |
+38% |
|
April |
17856 |
25308 |
+42% |
|
May |
15462 |
-- |
-- |
|
June |
26137 |
-- |
-- |
|
July |
23909 |
-- |
-- |
|
August |
21755 |
-- |
-- |
|
September |
27390 |
-- |
-- |
|
October |
25483 |
-- |
-- |
|
November |
30017 |
-- |
-- |
|
December |
29960 |
-- |
-- |
*Does not include interest
Financing firms provided new mortgages for residential units worth nearly SAR 343 million in April, a jump of 281% 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 |
515 |
+59% |
|
April |
90 |
343 |
+281% |
|
May |
201 |
-- |
-- |
|
June |
742 |
-- |
-- |
|
July |
350 |
-- |
-- |
|
August |
261 |
-- |
-- |
|
September |
339 |
-- |
-- |
|
October |
342 |
-- |
-- |
|
November |
436 |
-- |
-- |
|
December |
441 |
-- |
-- |
*Does not include interest
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