Mortgage loans provided to retail clients by banks in Saudi Arabia nearly tripled year-on-year (YoY) to SAR 6.68 billion in July 2019, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.
|
New Retail Housing Loans (SAR mln) |
|||
|
Period |
2018 |
2019 |
Variation |
|
January |
1,643 |
4,431 |
+170% |
|
February |
1,908 |
4,224 |
+121% |
|
March |
2,416 |
5,199 |
+115% |
|
April |
2,479 |
6,035 |
+143% |
|
May |
2,252 |
5,187 |
+130% |
|
June |
959 |
4,051 |
+322% |
|
July |
2,267 |
6,678 |
+195% |
|
August |
1,510 |
-- |
-- |
|
September |
1,873 |
-- |
-- |
|
October |
3,054 |
-- |
-- |
|
November |
3,287 |
-- |
-- |
|
December |
3,366 |
-- |
-- |
*Doesn’t include interest
Villa mortgages accounted for 79 percent, or SAR 5.28 billion of total housing loans in the same period. Apartments came second with SAR 830 million, then land plots (SAR 569 million).
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2018 |
1,286 |
229 |
128 |
|
February |
1,451 |
298 |
159 |
|
March |
1,906 |
335 |
175 |
|
April |
2,016 |
286 |
176 |
|
May |
1,864 |
225 |
164 |
|
June |
791 |
104 |
64 |
|
July |
1,921 |
189 |
157 |
|
August |
1,251 |
144 |
115 |
|
September |
1,532 |
192 |
149 |
|
October |
2,511 |
324 |
219 |
|
November |
2,677 |
360 |
250 |
|
December |
2,788 |
355 |
224 |
|
January 2019 |
3,520 |
562 |
349 |
|
February |
3,436 |
466 |
322 |
|
March |
4,218 |
549 |
432 |
|
April |
4,910 |
636 |
489 |
|
May |
4,223 |
610 |
354 |
|
June |
3,208 |
524 |
319 |
|
July |
5,279 |
830 |
569 |
*Doesn’t include interest
Total contracts signed between banks and retail clients more than tripled YoY in July 2019 to 15,025 contracts.
|
The Number of New Retail Housing Loans Contracts By Banks (SAR mln)* |
|||
|
Period |
2018 |
2019 |
Variation |
|
January |
2,553 |
2,553 |
+255% |
|
February |
2,959 |
2,959 |
+206% |
|
March |
3,716 |
3,716 |
+210% |
|
April |
3,894 |
3,894 |
+252% |
|
May |
3,707 |
3,707 |
+226% |
|
June |
1,675 |
9,122 |
%445 + |
|
July |
4,031 |
15,025 |
+273% |
|
August |
2,742 |
-- |
-- |
|
September |
3,490 |
-- |
-- |
|
October |
5,695 |
-- |
-- |
|
November |
6,307 |
-- |
-- |
|
December |
6,116 |
-- |
-- |
*Doesn’t include interest
Home financiers provided new mortgages for residential units worth SAR 522 million in July, a rise of 132 percent YoY.
SAMA issued new directives in May 2018 compelling all banks and mortgage companies to provide mortgages to individuals, as per the due regulations.
|
The Number of New Retail Housing Loans Contracts by Financing Firms (SAR mln)* |
|||
|
Period |
2018 |
2019 |
Variation |
|
January |
90 |
335 |
+272% |
|
February |
171 |
397 |
+132% |
|
March |
178 |
361 |
+103% |
|
April |
256 |
384 |
+50% |
|
May |
287 |
466 |
+62% |
|
June |
107 |
311 |
+191% |
|
July |
225 |
522 |
+132% |
|
August |
136 |
-- |
-- |
|
September |
171 |
-- |
-- |
|
October |
352 |
-- |
-- |
|
November |
276 |
-- |
-- |
|
December |
240 |
-- |
-- |
*Doesn’t include interest 
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