Saudi Arabia's annual real estate deals rise 20% to SAR 197.2 bln, hit 4-year high

Riyadh city

The value of Saudi Arabia's real estate transactions increased 20%, or SAR 33.4 billion, year-on-year (YoY) to SAR 197.21 billion over the year starting from Aug. 20, 2020 (1442 Hijri year), Saudi Justice Ministry's data showed.

It recorded its highest level in four years, or since 2016/2017 (1438 Hijri year), when it reached SAR 198.9 billion.

The number of the real estate transactions over the 12-month period stood at around 314,300, while the total real estate units sold was 327,500.

*Total Value of Real Estate Transactions Since 1430 (SAR bln)**
Year	Value	Variation (Value)	Variation (%)
1430 (2007/2008)	80.17	--	--
1431 (2009/2008)	122.52	+ 42.36	+ 53 %
1432 (2010/2011)	162.34	+ 39.82	+ 32 %
1433 (2011/2012)	199.16	+ 36.82	+ 23 %
1434 (2012/2013)	371.27	+ 172.11	+ 86 %
1435 (2013/2014)	427.27	+ 55.99	+ 15 %
1436 (2014/2015)	356.98	(70.29)	(16%)
1437 (2015/2016)	279.62	(77.36)	(22%)
1438 (2016/2017)	198.93	(80.69)	(29%)
1439 (2017/2018)	168.36	(30.57)	(15%)
1440 (2018/2019)	161.33	(7.03)	(4%)
1441 (2019/2020)	163.80	+ 2.47	+ 2 %
1442 (2020/2021)	197.21	+ 33.41	+ 20 %

*Updated Data.

Real estate transactions increased over a seven-month period, recording a hike of 504% in Sha’aban and 167% in Ramadan.

Meanwhile, the value of the real estate deals declined over the remaining five months, with a drop of 34% in Dhul Qa’dah.

Total Value of Real Estate Market Transactions (SAR bln)
Month	2019/2020 (1441)	2020/2021 (1442)	Variation
Aug. - Sept. (Muharram)	16.61	13.09	(21%)
Sept. - Oct. (Safar)	15.63	11.74	(25%)
Oct. - Nov. (Rabi Al Awwal)	14.87	18.10	+ 22 %
Nov. - Dec. (Rabi Al Thani)	14.31	18.65	+ 30 %
Dec. - Jan. (Jumada Al Awwal)	13.34	14.43	+ 8 %
Jan. - Feb. (Jumada Al Thani)	19.49	18.74	(4%)
Feb. – March (Rajab)	13.77	23.12	+ 68 %
March – April (Sha’ban)	3.86	23.27	+ 504 %
April – May (Ramadan)	5.63	15.06	+ 167 %
May – June (Shawwal)	13.97	11.72	(16%)
June - July (Dhul Qa’dah)	26.49	17.41	(34%)
July - Aug. (Dhul Hijjah)	5.84	11.86	+ 103 %
Total	163.80	197.21	+ 20 %

The value of the residential deals stood at SAR 125.02 billion, while the value of the commercial deals reached SAR 55.89 billion. The agricultural and industrial deals were valued at nearly SAR 16.3 billion over the last 12 months.

Land sale deals represented nearly 88.6%, or SAR 174.8 billion, of total real estate deals over the 12-month period.

Real Estate Market Property by Type (SAR bln)
Property Type	Residential	Commercial	Agricultural & Industrial	Total	Percentage to total (%)
Plot of land	116.23	53.16	5.38	174.77	88.6 %
Agricultural land	1.84	0.03	10.85	12.72	6.5 %
Apartment	4.12	1.86	0.06	6.04	3.1 %
Showroom/shop	1.00	0.03	--	1.04	0.5 %
Villa	0.92	0.04	--	0.96	0.5 %
Utility	0.27	0.26	--	0.53	0.3 %
House	0.42	0.08	--	0.50	0.3 %
Shopping mall	0.04	0.37	--	0.41	0.2 %
Building	0.15	0.04	--	0.18	0.1 %
Chalet	0.03	0.01	--	0.04	0.02 %
Palace	--	0.01	--	0.01	0.01 %
Total	125.02	55.89	16.30	197.20	100.0 %

Land space surged 276% YoY to 3.36 million square meters last year, the largest area since the start of issuing this data.

Real Estate Market Properties Areas (SQM)
Month	2018/2019 (1440)	2019/2020 (1441)	Variation
Aug. - Sept. (Muharram)	63.16	177.48	+181%
Sept. - Oct. (Safar)	108.07	139.57	+29%
Oct. - Nov. (Rabi Al Awwal)	72.46	216.72	+199%
Nov. - Dec. (Rabi Al Thani)	54.40	222.64	+309%
Dec. - Jan. (Jumada Al Awwal)	77.57	165.24	+113%
Jan. - Feb. (Jumada Al Thani)	118.66	253.48	+114%
Feb. – March (Rajab)	69.84	288.05	+312%
March – April (Sha’ban)	3.42	386.95	+11221%
April – May (Ramadan)	6.22	344.32	+5431%
May – June (Shawwal)	58.41	335.06	+474%
June - July (Dhul Qa’dah)	179.15	516.71	+188%
July - Aug. (Dhul Hijjah)	81.24	311.76	+284%
Total	892.62	3357.98	+276%

Riyadh saw the largest number of real estate deals at SAR 80.4 billion. It was followed by Jeddah with SAR 30 billion worth of deals.

Real Estate Transactions in Major Cities (SAR bln)
City	Residential	Commercial	Total
Riyadh	50.6	29.7	80.4
Jeddah	20.3	9.4	29.7
Dammam	5.7	3.3	9.0
Makkah	7.3	1.0	8.2
Al Khobar	5.5	2.5	8.0
Al Madinah	5.3	1.4	6.7

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