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Saudi Arabia's real estate deals rise 23% to SAR 14.5 bln last month
Riyadh city
The value of Saudi Arabia's real estate transactions grew by 23% to nearly SAR 14.5 billion in September-October 2021 (Safar 1443 Hijri year), compared to SAR 11.76 billion in the same period last year, Ministry of Justice data showed.
The real estate deals dropped by 7%, or SAR 1.1 billion, month-on-month (MoM).
The number of the real estate transactions during the same period stood at around 19,500, down from nearly 23,200 a year earlier. The number of properties sold also fell to 20,300 for the same period.
|
Total Value of Real Estate Market Transactions (SAR bln) |
|||
|
Month* |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
|
Aug. - Sept. (Muharram) |
13.12 |
15.59 |
+ 19% |
|
Sept. - Oct. (Safar) |
11.77 |
14.50 |
+ 23% |
|
Oct. - Nov. (Rabi Al Awwal) |
18.13 |
-- |
-- |
|
Nov. - Dec. (Rabi Al Thani) |
18.68 |
-- |
-- |
|
Dec. - Jan. (Jumada Al Awwal) |
14.40 |
-- |
-- |
|
Jan. - Feb. (Jumada Al Thani) |
18.74 |
-- |
-- |
|
Feb. - March (Rajab) |
23.14 |
-- |
-- |
|
March - April (Sha’ban) |
23.29 |
-- |
-- |
|
April - May (Ramadan) |
15.08 |
-- |
-- |
|
May - June (Shawwal) |
11.72 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
17.34 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
11.82 |
-- |
-- |
|
Total |
197.22 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
The value of residential deals increased by 10% year-on-year (YoY) to SAR 8.9 billion.
Meanwhile, commercial real estate deals rose 47% YoY to SAR 4.44 billion. The agricultural industrial deals were valued at nearly SAR 1.16 billion last month.
The residential deals represented 61.4% of total real estate deals last month, while commercial and agricultural industrial deals represented 30.6% and 8%, respectively.
|
Real Estate Market Transactions in Detail (SAR bln) |
||||||
|
Residential |
Commercial |
|||||
|
Month* |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
|
Aug. - Sept. (Muharram) |
9.63 |
9.09 |
(6%) |
2.69 |
5.20 |
+93% |
|
Sept. - Oct. (Safar) |
8.11 |
8.90 |
+10% |
3.02 |
4.44 |
+47% |
|
Oct. - Nov. (Rabi Al Awwal) |
10.51 |
-- |
-- |
6.75 |
-- |
-- |
|
Nov. - Dec. (Rabi Al Thani) |
10.46 |
-- |
-- |
6.63 |
-- |
-- |
|
Dec. – Jan. (Jumada Al Awwal) |
9.45 |
-- |
-- |
3.38 |
-- |
-- |
|
Jan. - Feb. (Jumada Al Thani) |
12.69 |
-- |
-- |
4.81 |
-- |
-- |
|
Feb. - March (Rajab) |
14.42 |
-- |
-- |
5.83 |
-- |
-- |
|
March - April (Sha’ban) |
15.87 |
-- |
-- |
5.44 |
-- |
-- |
|
April - May (Ramadan) |
9.57 |
-- |
-- |
4.15 |
-- |
-- |
|
May - June (Shawwal) |
7.14 |
-- |
-- |
3.46 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
10.64 |
-- |
-- |
5.53 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
6.55 |
-- |
-- |
4.18 |
-- |
-- |
|
Total |
125.04 |
-- |
-- |
55.87 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
Land sale transactions accounted for nearly 91.9%, or SAR 13.3 billion, of total realty deals in September–October 2021, followed by the agricultural land sales with a value of SAR 626 million.
The below table shows real estate market transactions by type in September–October 2021:
|
Real Estate Market Transactions by Type (SAR mln) |
||
|
Type |
Transaction Value |
Percentage to total |
|
Land Plot |
13317.4 |
91.9% |
|
Agricultural Land |
626.0 |
4.3% |
|
Apartment |
285.7 |
2.0% |
|
Villa |
129.0 |
0.9% |
|
Showroom/Shop |
75.5 |
0.5% |
|
House |
27.4 |
0.2% |
|
Utility |
16.3 |
0.1% |
|
Building |
15.5 |
0.1% |
|
Chalet |
4.3 |
0.03% |
|
Total |
14497.1 |
100% |
Land space rose 308% to 569.3 million square meters (sqm) compared with the same period of 2020, when it reached 139.6 million sqm.
|
Total Area of Real Estate Market Transactions (mln sqm) |
|||
|
Month |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
|
Aug. - Sept. (Muharram) |
177.53 |
529.31 |
198 +% |
|
Sept. - Oct. (Safar) |
139.61 |
569.33 |
+308% |
|
Oct. - Nov. (Rabi Al Awwal) |
216.72 |
-- |
-- |
|
Nov. - Dec. (Rabi Al Thani) |
222.67 |
-- |
-- |
|
Dec. – Jan. (Jumada Al Awwal) |
165.25 |
-- |
-- |
|
Jan. - Feb. (Jumada Al Thani) |
253.51 |
-- |
-- |
|
Feb. - March (Rajab) |
288.07 |
-- |
-- |
|
March - April (Sha’ban) |
386.99 |
-- |
-- |
|
April - May (Ramadan) |
344.33 |
-- |
-- |
|
May - June (Shawwal) |
335.08 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
516.81 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
311.81 |
-- |
-- |
|
Total |
3358.42 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
Riyadh was the most active city by value of residential and commercial transactions, reaching SAR 5.96 billion. Jeddah took the second place with transactions worth SAR 1.8 billion in September–October 2021.
|
Real Estate Transactions in Major Cities in Sept.- Oct. (Safar) (SAR bln) |
||||||
|
City |
Residential |
Commercial |
||||
|
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
|
|
Riyadh |
2966.7 |
3498.2 |
+18% |
1200.6 |
2462.5 |
+105% |
|
Jeddah |
1394.3 |
1186.2 |
(15%) |
932.1 |
616.4 |
(34%) |
|
Makkah |
399.3 |
972.3 |
+144% |
39.8 |
127.7 |
+221% |
|
Dammam |
415.5 |
362.4 |
(13%) |
108.8 |
202.3 |
+86% |
|
Al Khobar |
383.5 |
342.1 |
(11%) |
98.7 |
174.8 |
+77% |
|
Buraidah |
218.0 |
361.5 |
+66% |
34.0 |
97.4 |
+186% |
|
Madinah |
282.3 |
301.0 |
+7% |
61.1 |
117.1 |
+92% |
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