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Residential real estate finance for individuals falls 28% to SAR 12.15 bln in January: SAMA
Saudi Arabian banknotes
Residential real estate finance provided for individuals by banks in Saudi Arabia declined 28% year-on-year (YoY) to SAR 12.15 billion in January, data issued by the Saudi Central Bank (SAMA) showed.
When compared to December, residential real estate finance fell by around SAR 451 million in January.
|
New Retail Residential Real Estate Loans (SAR mln)* |
|||
|
Period |
2021 |
2022 |
Variation |
|
January |
16829 |
12151 |
(%28) |
|
February |
14181 |
-- |
-- |
|
March |
18040 |
-- |
-- |
|
April |
15595 |
-- |
-- |
|
May |
8906 |
-- |
-- |
|
June |
8322 |
-- |
-- |
|
July |
9381 |
-- |
-- |
|
August |
12736 |
-- |
-- |
|
September |
12036 |
-- |
-- |
|
October |
12139 |
-- |
-- |
|
November |
11773 |
-- |
-- |
|
December |
12602 |
-- |
-- |
*Does not include interest
Villa residential real estate finance came on top, accounting for 77%, or SAR 9.4 billion, of the total residential loans provided in January.
Apartments and land plots followed with SAR 2.11 billion and SAR 642 million, respectively.
|
New Retail Residential Real Estate Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2021 |
9706 |
2859 |
4263 |
|
February |
8602 |
2411 |
3169 |
|
March |
10624 |
3046 |
4370 |
|
April |
8736 |
2855 |
4004 |
|
May |
5296 |
1595 |
2016 |
|
June |
3996 |
1689 |
2637 |
|
July |
5018 |
1866 |
2498 |
|
August |
7899 |
2716 |
2121 |
|
September |
7717 |
2634 |
1685 |
|
October |
9491 |
2272 |
376 |
|
November |
9082 |
2276 |
415 |
|
December |
10025 |
2183 |
394 |
|
January 2022 |
9403 |
2106 |
642 |
*Does not include interest
A total of 16,440 contracts were signed between banks and retail clients in the same month, a decline of 29% YoY.
|
New Retail Housing Loans Contracts by Banks* |
|||
|
Period |
2021 |
2022 |
Variation |
|
January |
23298 |
16442 |
(29%) |
|
February |
18989 |
-- |
-- |
|
March |
23380 |
-- |
-- |
|
April |
19889 |
-- |
-- |
|
May |
11495 |
-- |
-- |
|
June |
11309 |
-- |
-- |
|
July |
12809 |
-- |
-- |
|
August |
17143 |
-- |
-- |
|
September |
15453 |
-- |
-- |
|
October |
16223 |
-- |
-- |
|
November |
15406 |
-- |
-- |
|
December |
16087 |
-- |
-- |
*Does not include interest
Financing firms provided new residential real estate finance worth nearly SAR 264 million for residential units in January, a drop of 33% YoY.
|
Volume of New Retail Residential Real Estate Finance Contracts by Financing Companies (SAR mln)* |
|||
|
Period |
2021 |
2022 |
Variation |
|
January |
391 |
264 |
(33%) |
|
February |
382 |
-- |
-- |
|
March |
515 |
-- |
-- |
|
April |
343 |
-- |
-- |
|
May |
254 |
-- |
-- |
|
June |
193 |
-- |
-- |
|
July |
191 |
-- |
-- |
|
August |
337 |
-- |
-- |
|
September |
350 |
-- |
-- |
|
October |
287 |
-- |
-- |
|
November |
264 |
-- |
-- |
|
December |
260 |
-- |
-- |
*Does not include interest
Related News
| Residential real estate finance for individuals rises 1% to SAR 152.5 bln in 2021: SAMA |
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