Saudi retail mortgage loans surge 66% to SAR 16 bln in January: SAMA

04/03/2021 Argaam Special


Mortgage loans provided to retail clients by banks in Saudi Arabia surged 66% year-on-year (YoY) to SAR 16.04 billion in January 2021, data issued by the Saudi Central Bank (SAMA) showed.

 

When compared to the previous month, mortgage loans grew by around SAR 629 million in January.

 

New Retail Housing Loans (SAR mln)*

Period

2020

2021

Variation

January

9,692

16,041

+66%

February

10,590

--

--

March

10,894

--

--

April

7,650

--

--

May

7,791

--

--

June

13,120

--

--

July

10,776

--

--

August

9,866

--

--

September

12,993

--

--

October

12,148

--

--

November

15,266

--

--

December

15,412

--

--

*Does not include interest

 

 

Villa mortgages came on top, accounting for 79%, or SAR 12.64 billion of total housing loans provided in January.

 

Apartments and land plots followed with SAR 2.42 billion and SAR 980 million, respectively.

 

New Retail Housing Loans by Product Type (SAR mln)*

Period

Villas

Apartments

Land

January 2020

7,750

1,270

672

February

8,460

1,418

711

March

8,701

1,714

479

April

6,287

1,041

322

May

6,217

1,237

337

June

11,012

1,367

741

July

8,559

1,572

645

August

7,788

1,518

561

September

10,490

1,863

640

October

9,897

1,597

654

November

12,383

2,184

700

December

12,721

2,013

678

January 2021

12,644

2,417

980

*Does not include interest

 

A total of 32,330 contracts were signed between banks and retail clients in the same month, a rise of 38% YoY.

 

Number of New Retail Housing Loans Contracts By Banks (SAR mln)*

Period

2020

2021

Variation

January

23,471

32,330

38%

February

24,676

--

--

March

23,141

--

--

April

17,856

--

--

May

15,462

--

--

June

26,137

--

--

July

23,909

--

--

August

21,755

--

--

September

27,390

--

--

October

25,483

--

--

November

30,017

--

--

December

29,960

--

--

*Does not include interest

 

Financing firms provided new mortgages for residential units worth SAR 391 million in January, a decline of 31% YoY.

 

Number of New Retail Housing Loans Contracts By Financing Companies (SAR mln)*

Period

2020

2021

Variation

January

565

391

(31%)

February

459

--

--

March

325

--

--

April

90

--

--

May

201

--

--

June

742

--

--

July

350

--

--

August

261

--

--

September

339

--

--

October

342

--

--

November

436

--

--

December

441

--

--

*Does not include interest

 

 

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