The value of Saudi Arabia's real estate deals fell 28% year-on-year (YoY) to SAR 11.7 billion from SAR 16.2 billion in August-September 2020 (Muharram 1442 Hijri year), Saudi Justice Ministry's data showed.
On the other hand, real estate deals jumped 102%, or SAR 5.9 billion, month-on-month (MoM).
The number of real estate deals made in Muharram reached around 25,000, compared with 29,800 during the same month of the last Hijri year.
The number of sold properties declined to 25,850.
|
Total Value of Real Estate Market Transactions (SAR bln) |
||||
|
Month* |
2019/2020 1441 |
2020/2021 1442 |
Variation |
|
|
Aug. - Sept. (Muharram) |
16.2 |
11.7 |
(28%) |
|
|
Sept. - Oct. (Safar) |
15.2 |
-- |
-- |
|
|
Oct. - Nov. (Rabi Al Awwal) |
14.7 |
-- |
-- |
|
|
Nov. - Dec. (Rabi Al Thani) |
13.9 |
-- |
-- |
|
|
Dec. - Jan. (Jumada Al Awwal) |
13.0 |
-- |
-- |
|
|
19.0 |
-- |
-- |
|
|
Feb. – March (Rajab) |
13.4 |
-- |
-- |
|
|
March – April (Sha’ban) |
3.8 |
-- |
-- |
|
|
April – May (Ramadan) |
5.5 |
-- |
-- |
|
|
May – June (Shawwal) |
13.7 |
-- |
-- |
|
|
June – July (Dhul Qa’dah) |
25.7 |
-- |
-- |
|
|
July – Aug. (Dhul Hijjah) |
5.8 |
-- |
-- |
|
|
Total |
160.0 |
-- |
-- |
|
*The data is updated based on the periodic reports issued from the Ministry of Justice
The decline in real estate deals in Muharram is attributed to the fall in the number of residential deals by 34% to SAR 8.36 billion, compared with the same period of the last Hijri year.
Similarly, the value of the commercial deals dropped 21% YoY to SAR 2.61 billion. The agricultural and industrial deals were valued at nearly SAR 749.4 billion.
Residential deals represented 71.4% of total real estate deals in Muharram. It was followed by the commercial and agricultural deals with 22.2% and 6.4%, respectively. Meanwhile, the industrial deals reached around SAR 900,000.
|
Real Estate Market Transactions in detail (SAR bln) |
|||||||
|
Residential |
Commercial |
||||||
|
Month* |
2019/2020 1441 |
2020/2021 1442 |
Variation |
2019/2020 1441 |
2020/2021 1442 |
Variation |
|
|
Aug. - Sept. (Muharram) |
12.63 |
8.36 |
(34%) |
3.31 |
2.61 |
(21%) |
|
|
Sept. - Oct. (Safar) |
12.33 |
-- |
-- |
2.58 |
-- |
-- |
|
|
Oct. - Nov. (Rabi Al Awwal) |
11.59 |
-- |
-- |
2.62 |
-- |
-- |
|
|
Nov. - Dec. (Rabi Al Thani) |
9.75 |
-- |
-- |
3.78 |
-- |
-- |
|
|
Dec. - Jan. (Jumada Al Awwal) |
10.16 |
-- |
-- |
2.52 |
-- |
-- |
|
|
14.56 |
-- |
-- |
3.98 |
-- |
-- |
|
|
Feb. – March (Rajab) |
9.88 |
-- |
-- |
3.30 |
-- |
-- |
|
|
March – April (Sha’ban) |
3.34 |
-- |
-- |
0.40 |
-- |
-- |
|
|
April – May (Ramadan) |
4.56 |
-- |
-- |
0.75 |
-- |
-- |
|
|
May – June (Shawwal) |
8.68 |
-- |
-- |
4.35 |
-- |
-- |
|
|
June – July (Dhul Qa’dah) |
17.05 |
-- |
-- |
6.78 |
-- |
-- |
|
|
July – Aug. (Dhul Hijjah) |
4.15 |
-- |
-- |
1.13 |
-- |
-- |
|
|
Total |
118.68 |
-- |
-- |
35.50 |
-- |
-- |
|
*The data is updated based on the periodic reports issued from the Ministry of Justice
Land sale transactions accounted for nearly 89%, or SAR 10.4 billion, of the total realty deals in Muharram. It was followed by the residential apartment deals with SAR 546.6 million.
|
Real Estate Market Transactions by Type (SAR mln) |
||||||
|
|
Residential |
Commercial |
||||
|
Type |
2019/2020 1441 |
2020/2021 1442 |
Variation |
2019/2020 1441 |
2020/2021 1442 |
Variation |
|
Plot of land |
11581.5 |
7606.0 |
(34%) |
3090.6 |
2575.8 |
(17%) |
|
Agricultural land |
744.3 |
520.6 |
(30%) |
21.4 |
15.4 |
(28%) |
|
Apartment |
4.4 |
0.1 |
(98%) |
180.1 |
-- |
-- |
|
Utility |
129.0 |
90.3 |
(30%) |
4.2 |
4.7 |
12% |
|
Villa |
94.6 |
89.1 |
(6%) |
3.3 |
3.6 |
9% |
|
Show room/shop |
49.7 |
39.7 |
(20%) |
1.6 |
2.0 |
25% |
|
House |
19.1 |
6.9 |
(64%) |
0.5 |
3.1 |
520% |
|
Building |
6.3 |
4.0 |
(37%) |
0.8 |
-- |
-- |
|
Shopping mall |
-- |
2.5 |
-- |
-- |
-- |
-- |
|
Palace |
1.2 |
1.3 |
+ 8% |
8.5 |
0.1 |
(99%) |
|
Chalet |
0.9 |
0.05 |
(95%) |
-- |
1.4 |
-- |
|
Total |
12630.8 |
8360.6 |
(34%) |
3311 |
2606.2 |
(21%) |
Land space rose 515% YoY to 158 million square meters in Muharram. In addition, land space increased by 76.8 million square meters MoM.
|
Total Real Estate Market Transactions (mln sqm) |
|||
|
Month |
2019/2020 (1441) |
2020/2021 (1442) |
Variation |
|
Aug. - Sept. (Muharram) |
63.03 |
158 |
+151% |
|
Sept. - Oct. (Safar) |
107.97 |
-- |
-- |
|
Oct. - Nov. (Rabi Al Awwal) |
72.53 |
-- |
-- |
|
Nov. - Dec. (Rabi Al Thani) |
54.27 |
-- |
-- |
|
Dec. - Jan. (Jumada Al Awwal) |
77.46 |
-- |
-- |
|
Jan. - Feb. (Jumada Al Thani) |
118.60 |
-- |
-- |
|
Feb. – March (Rajab) |
69.76 |
-- |
-- |
|
March – April (Sha’ban) |
3.40 |
-- |
-- |
|
April – May (Ramadan) |
6.19 |
-- |
-- |
|
May – June (Shawwal) |
58.36 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
179.03 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
81.23 |
-- |
-- |
|
Total |
891.84 |
-- |
-- |
Riyadh saw the largest number of real estate deals with SAR 4.34 billion followed by Jeddah with SAR 1.88 billion worth of deals.
|
Real Estate Transactions in Major Cities in Muharram (SAR bln) |
||||||
|
|
Residential |
Commercial |
||||
|
City |
2019/2020 1441 |
2020/2021 1442 |
Variation |
2019/2020 1441 |
2020/2021 1442
|
Variation |
|
Riyadh |
4868 |
3167 |
(35%) |
1335 |
1169 |
(12%) |
|
Jeddah |
1594 |
1361 |
(15%) |
452 |
520 |
+15% |
|
Dammam |
524 |
339 |
(35%) |
138 |
239 |
+73% |
|
Al Khobar |
315 |
386 |
+22 % |
94 |
113 |
+20% |
|
Madinah |
979 |
397 |
(59%) |
719 |
53 |
(93%) |
|
Makkah |
599 |
331 |
(45%) |
46 |
34 |
(26%) |
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