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Saudi retail mortgage loans retreat 6% to SAR 12.26 bln in September: SAMA
Saudi Arabian banknotes
Mortgage loans provided to retail clients by banks in Saudi Arabia declined 6% year-on-year (YoY) to SAR 12.26 billion in September, data issued by the Saudi Central Bank (SAMA) showed.
When compared to August, mortgage loans fell by around SAR 735 million in September.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period |
2020 |
2021 |
Variation |
|
January |
9692 |
16041 |
+66% |
|
February |
10590 |
13748 |
+30% |
|
March |
10894 |
16946 |
+56% |
|
April |
7650 |
13932 |
+82% |
|
May |
7791 |
8824 |
+13% |
|
June |
13120 |
7508 |
(43%) |
|
July |
10776 |
8398 |
(22%) |
|
August |
9866 |
12994 |
+32% |
|
September |
12993 |
12259 |
(6%) |
|
October |
12148 |
-- |
-- |
|
November |
15266 |
-- |
-- |
|
December |
15412 |
-- |
-- |
*Does not include interest
Villa mortgages came on top, accounting for 77%, or SAR 9.42 billion, of total housing loans provided in September.
Apartments and land plots followed with SAR 2.34 billion and SAR 494 million, respectively.
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2021 |
12644 |
2417 |
980 |
|
February |
11047 |
2092 |
610 |
|
March |
13681 |
2568 |
697 |
|
April |
11220 |
2361 |
350 |
|
May |
7085 |
1329 |
410 |
|
June |
5819 |
1301 |
388 |
|
July |
6572 |
1481 |
345 |
|
August |
10122 |
2362 |
510 |
|
September |
9422 |
2343 |
494 |
*Does not include interest
A total of 23,100 contracts were signed between banks and retail clients in the same month, a decline of 16% YoY.
|
New Retail Housing Loans Contracts by Banks* |
|||
|
Period |
2020 |
2021 |
Variation |
|
January |
23471 |
32330 |
+38% |
|
February |
24676 |
26376 |
+7% |
|
March |
23141 |
31826 |
+38% |
|
April |
17856 |
25308 |
+42% |
|
May |
15462 |
17166 |
+11% |
|
June |
26137 |
17544 |
(33%) |
|
July |
23909 |
18486 |
(23%) |
|
August |
21755 |
26974 |
+24% |
|
September |
27390 |
23109 |
(16%) |
|
October |
25483 |
-- |
-- |
|
November |
30017 |
-- |
-- |
|
December |
29960 |
-- |
-- |
*Does not include interest
Financing firms provided new mortgages for residential units worth nearly SAR 347 million in September, an increase of 2% YoY.
|
Volume 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 |
254 |
+26% |
|
June |
742 |
194 |
(74%) |
|
July |
350 |
189 |
(46%) |
|
August |
261 |
336 |
+29% |
|
September |
339 |
347 |
+2% |
|
October |
342 |
-- |
-- |
|
November |
436 |
-- |
-- |
|
December |
441 |
-- |
-- |
*Does not include interest
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