Saudi money
Mortgage loans provided to retail clients by banks in Saudi Arabia declined 22% year-on-year (YoY) to SAR 8.4 billion in July, data issued by the Saudi Central Bank (SAMA) showed.
When compared to the previous month, mortgage loans rose by around SAR 890 million in July.
|
New Retail Housing Loans (SAR mln)* |
|||
|
Period |
2020 |
2021 |
Variation |
|
January |
9692 |
16041 |
+66% |
|
February |
10590 |
13748 |
+30% |
|
March |
10894 |
16946 |
+56% |
|
April |
7650 |
13932 |
+82% |
|
May |
7791 |
8824 |
+13% |
|
June |
13120 |
7508 |
(43%) |
|
July |
10776 |
8398 |
(22%) |
|
August |
9866 |
-- |
-- |
|
September |
12993 |
-- |
-- |
|
October |
12148 |
-- |
-- |
|
November |
15266 |
-- |
-- |
|
December |
15412 |
-- |
-- |
*Does not include interest
Villa mortgages topped the list, accounting for 78%, or SAR 6.57 billion, of total housing loans provided in July.
Apartments and land plots followed with SAR 1.48 billion and SAR 345 million, respectively.
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2021 |
12644 |
2417 |
980 |
|
February |
11047 |
2092 |
610 |
|
March |
13681 |
2568 |
697 |
|
April |
11220 |
2361 |
350 |
|
May |
7085 |
1329 |
410 |
|
June |
5819 |
1301 |
388 |
|
July |
6572 |
1481 |
345 |
*Does not include interest
A total of 18,500 contracts were signed between banks and retail clients in the same month, a decline of 23% YoY.
|
New Retail Housing Loans Contracts by Banks* |
|||
|
Period |
2020 |
2021 |
Variation |
|
January |
23471 |
32330 |
+38% |
|
February |
24676 |
26376 |
+7% |
|
March |
23141 |
31826 |
+38% |
|
April |
17856 |
25308 |
+42% |
|
May |
15462 |
17166 |
+11% |
|
June |
26137 |
17544 |
(33%) |
|
July |
23909 |
18486 |
(23%) |
|
August |
21755 |
-- |
-- |
|
September |
27390 |
-- |
-- |
|
October |
25483 |
-- |
-- |
|
November |
30017 |
-- |
-- |
|
December |
29960 |
-- |
-- |
*Does not include interest
Financing firms provided new mortgages for residential units worth SAR 189 million in July, a decrease of 46% YoY.
|
Volume of New Retail Housing Loans Contracts by Financing Companies (SAR mln)* |
|||
|
Period |
2020 |
2021 |
Variation |
|
January |
565 |
391 |
(31%) |
|
February |
459 |
380 |
(17%) |
|
March |
325 |
515 |
+59% |
|
April |
90 |
343 |
+281% |
|
May |
201 |
254 |
+26% |
|
June |
742 |
194 |
(74%) |
|
July |
350 |
189 |
(46%) |
|
August |
261 |
-- |
-- |
|
September |
339 |
-- |
-- |
|
October |
342 |
-- |
-- |
|
November |
436 |
-- |
-- |
|
December |
441 |
-- |
-- |
*Does not include interest
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