Mortgage loans provided to retail clients by banks in Saudi Arabia increased by 225% year-on-year (YoY) to SAR 4.9 billion in August 2019, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.
When compared to the previous month, mortgage loans retreated by around SAR 1.8 billion in August.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period |
2018 |
2019 |
Variation |
|
January |
1,643 |
4,431 |
+61% |
|
February |
1,908 |
4,224 |
+21% |
|
March |
2,416 |
5,199 |
+20% |
|
April |
2,479 |
6,035 |
|
|
May |
2,252 |
5,187 |
|
|
June |
959 |
4,051 |
|
|
July |
2,267 |
6,678 |
|
|
August |
1,510 |
4,903 |
|
|
September |
1,873 |
-- |
|
|
October |
3,054 |
-- |
|
|
November |
3,287 |
-- |
|
|
December |
3,366 |
-- |
|
*Does not include interest
Villa mortgages accounted for 80 percent, or SAR 3.93 billion of total housing loans provided in August.
Apartments and land plots followed with SAR 605 million and SAR 370 million, respectively.
|
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 |
|
August |
3,928 |
605 |
370 |
*Doesn’t include interest
A total of 11,747 contracts were signed between banks and retail clients in August 2019, a rise of 328 percent YoY.
|
The Number New Retail Housing Loans Contracts by Bank (SAR mln)* |
|||
|
Period |
2018 |
2019 |
Variation |
|
January |
2,959 |
9,049 |
+255% |
|
February |
3,716 |
11,506 |
+206% |
|
March |
3,894 |
13,712 |
+210% |
|
April |
3,707 |
12,071 |
+252% |
|
May |
1,675 |
9,122 |
+226% |
|
June |
4,031 |
15,025 |
+445% |
|
July |
2,742 |
11,747 |
+273% |
|
August |
3,490 |
-- |
+328% |
|
September |
5,695 |
-- |
-- |
|
October |
6,307 |
-- |
-- |
|
November |
6,116 |
-- |
-- |
|
December |
2,959 |
9,049 |
-- |
*Does not include interest
Financing firms provided new mortgages for residential units worth SAR 332 million in August, a 143 percent YoY increase.
|
The Number New Retail Housing Loans Contracts by Financing Company (SAR mln)* |
|||
|
Period |
2018 |
2019 |
Variation |
|
January |
90 |
335 |
+273% |
|
February |
171 |
397 |
+133% |
|
March |
178 |
361 |
+103% |
|
April |
256 |
384 |
+50% |
|
May |
287 |
466 |
+62% |
|
June |
107 |
311 |
+191% |
|
July |
225 |
522 |
+132% |
|
August |
136 |
332 |
+143% |
|
September |
171 |
-- |
-- |
|
October |
352 |
-- |
-- |
|
November |
276 |
-- |
-- |
|
December |
240 |
-- |
-- |
*Does include interest
SAMA issued new directives in May 2018 obligating all banks and mortgage companies to provide mortgages to individuals, as per the due regulations.
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