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Saudi Arabia's real estate deals hit SAR 12.5 bln last month
The value of real estate transactions in Saudi Arabia in the month ending Feb. 16 (Jumada Al-Awwal) dropped by 25 percent YoY and 64 percent month-on-month to SAR 12.48 billion, Saudi Justice Ministry's data showed.
However, the data showed that, for the last six months (from the beginning of Hijri year on Sept. 21), the value of property deals rose 10 percent, or SAR 9.2 billion, to SAR 102.6 billion, compared to the same period a year earlier.
|
Real Estate Transactions (SAR bln) |
|||
|
Month |
2016/2017 (1438) |
2017/2018 (1439) |
Change |
|
Sept.-Oct. (Muharram) |
20.9 |
14.8 |
(29%) |
|
Oct.- Nov. (Safar) |
16.5 |
17.4 |
+5% |
|
Nov.- Dec. (Rabi Al Awwal) |
22.1 |
23.6 |
+7% |
|
Dec. –Jan. (Rabi Al Thani) |
17.2 |
34.3 |
+99% |
|
Jan. -Feb. (Jumada Al Awwal) |
16.7 |
12.5 |
(25%) |
|
Feb.- March (Jumada Al Thani) |
19.6 |
-- |
-- |
|
March- April (Rajab) |
17.8 |
-- |
-- |
|
April- May (Sha’ban) |
18.9 |
-- |
--- |
|
May- June (Ramadan) |
12.6 |
-- |
-- |
|
June- July (Shawwal) |
11.6 |
-- |
-- |
|
July- Aug. (Dhul Qa’dah |
21.5 |
-- |
-- |
|
Aug.- Sept. (Dhul Hijjah) |
7.7 |
-- |
-- |
|
Total |
203.2 |
-- |
-- |
The table below shows transactions across the residential and commercial segments.
|
Real Estate Transactions by Segment (SAR bln) |
||||||
|
|
Residential |
Commercial |
||||
|
Month |
2016/2017 (1438) |
2017/2018 (1439) |
Change |
2016/2017 (1438) |
2017/2018 (1439) |
Change |
|
Sept.-Oct. (Muharram) |
11.3 |
10.5 |
(7%) |
9.6 |
4.3 |
(55%) |
|
Oct.- Nov. (Safar) |
11.2 |
12.9 |
+15% |
5.3 |
4.5 |
(15%) |
|
Nov.- Dec. (Rabi Al Awwal) |
12.8 |
16.0 |
+127% |
9.4 |
7.6 |
(19%) |
|
Dec. –Jan. (Rabi Al Thani) |
11.3 |
18.6 |
-- |
5.9 |
15.8 |
+169% |
|
Jan. -Feb. (Jumada Al Awwal) |
11.2 |
8.7 |
-- |
5.6 |
3.8 |
(32%) |
|
Feb.- March (Jumada Al Thani) |
12.6 |
-- |
-- |
7.0 |
-- |
-- |
|
March- April (Rajab) |
12.3 |
-- |
-- |
5.5 |
-- |
-- |
|
April- May (Sha’ban) |
13.8 |
-- |
-- |
5.1 |
-- |
-- |
|
May- June (Ramadan) |
8.8 |
-- |
-- |
3.8 |
-- |
-- |
|
June- July (Shawwal) |
6.6 |
-- |
-- |
5.0 |
-- |
-- |
|
July- Aug. (Dhul Qa’dah |
12.5 |
-- |
-- |
9.0 |
-- |
-- |
|
Aug.- Sept. (Dhul Hijjah) |
5.2 |
-- |
-- |
2.5 |
-- |
-- |
|
Total |
129.6 |
-- |
-- |
73.7 |
-- |
-- |
In Jumada Al-Awwal, residential deals retreated by 22 percent YoY to SAR 8.7 billion. While commercial transactions fell by 32 percent to SAR 3.8 billion compared to the same period of last year.
Land sale transactions accounted for 86 percent of total real estate deals at SAR 10.69 billion, and apartment sales amounted to SAR 1.03 billion.
|
Real Estate Transactions by Type (SAR mln) |
||||||
|
|
Residential |
Commercial |
||||
|
Type |
2016/2017 (1438) |
2017/2018 (1439) |
Change |
2016/2017 (1438) |
2017/2018 (1439) |
Change |
|
Plot of land |
9,496.6 |
7,075.7 |
(25%) |
5,180.3 |
3,617.1 |
(30%) |
|
Apartment |
999.4 |
1,005.8 |
+1% |
28.6 |
25.1 |
(12%) |
|
Agricultural land |
359.5 |
307.7 |
(14%) |
276.7 |
111.9 |
(60%) |
|
Show room/shop |
101.0 |
102.6 |
+2% |
2.3 |
2.4 |
+4% |
|
Villa |
80.6 |
90.6 |
+12% |
29.6 |
5.9 |
(80%) |
|
House |
61.8 |
78.2 |
+27% |
4.5 |
0.7 |
(84%) |
|
Utility |
33.0 |
27.0 |
(18%) |
25.1 |
1.5 |
(94%) |
|
Building |
10.5 |
7.4 |
(30%) |
8.5 |
8.0 |
(6%) |
|
Palace |
3.5 |
6.0 |
+71% |
-- |
-- |
-- |
|
Chalet |
1.4 |
1.9 |
+36% |
-- |
-- |
-- |
|
Shopping mall |
-- |
1.8 |
-- |
-- |
-- |
-- |
|
Total |
11,147.3 |
8,704.7 |
(22%) |
5,555.6 |
3,772.6 |
(32%) |
Riyadh saw the largest number of residential real estate deals at SAR 2.49 billion— 22 percent lower than the same month of last year.
Jeddah came second with SAR 1.14 billion worth of deals, a 44 percent drop YoY.
Riyadh also took the lead in commercial deals, which edged up 26 percent YoY to SAR 1.87 billion.
|
Transactions by City (SAR bln) |
||||||
|
|
Residential |
Commercial |
||||
|
City |
2016/2017 (1438) |
2017/2018 (1439) |
Change |
2016/2017 (1438) |
2017/2018 (1439) |
Change |
|
Riyadh |
3.18 |
2.49 |
(22%) |
1.49 |
1.87 |
+26% |
|
Jeddah |
2.03 |
1.14 |
(44%) |
2.17 |
0.32 |
(85%) |
|
Dammam |
0.61 |
0.56 |
(8%) |
0.40 |
0.57 |
+43% |
|
Mecca |
1.47 |
0.80 |
(46%) |
0.29 |
0.07 |
(76%) |
|
Al Khobar |
0.44 |
0.60 |
+36% |
0.14 |
0.26 |
+86% |
|
Medina |
0.49 |
0.54 |
+10% |
0.28 |
0.09 |
(68%) |
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