Residential real estate finance for individuals falls 38% to SAR 8.78 bln in February: SAMA

04/04/2022 Argaam Special
Saudi Arabian banknotes

Saudi Arabian banknotes


Residential real estate finance provided for individuals by banks in Saudi Arabia declined 38% year-on-year (YoY) to SAR 8.78 billion in February – the lowest since June 2021, data issued by the Saudi Central Bank (SAMA) showed.

 

When compared to January, residential real estate finance fell by around SAR 3.37 million in February.

 

New Retail Residential Real Estate Loans (SAR mln)*

Period

2021

2022

Variation

January

16829

12151

(%28)

February

14181

8784

(%38)

March

18040

--

--

April

15595

--

--

May

8906

--

--

June

8322

--

--

July

9381

--

--

August

12736

--

--

September

12036

--

--

October

12139

--

--

November

11773

--

--

December

12602

--

--

*Does not include interest

 

 

Villa residential real estate finance came on top, accounting for 78%, or SAR 6.82 billion, of the total residential loans provided in February.

 

Apartments and land plots followed with SAR 1.5 billion and SAR 468 million, respectively.

 

New Residential Real Estate Finance by Product Type (SAR mln)*

Period

Villas

Apartments

Land

January 2021

9706

2859

4263

February

8602

2411

3169

March

10624

3046

4370

April

8736

2855

4004

May

5296

1595

2016

June

3996

1689

2637

July

5018

1866

2498

August

7899

2716

2121

September

7717

2634

1685

October

9491

2272

376

November

9082

2276

415

December

10025

2183

394

January 2022

9403

2106

642

February

6818

1498

468

*Does not include interest

 

A total of 11,600 contracts were signed between banks and retail clients in the same month, a decline of 39% YoY.

 

New Residential Real Estate Finance Contracts by Banks*

Period

2021

2022

Variation

January

23298

16442

(%29)

February

18989

11615

(39%)

March

23380

--

--

April

19889

--

--

May

11495

--

--

June

11309

--

--

July

12809

--

--

August

17143

--

--

September

15453

--

--

October

16223

--

--

November

15406

--

--

December

16087

--

--

*Does not include interest

 

Financing firms provided residential real estate finance worth nearly SAR 221 million for individuals in February, a drop of 42% YoY.

 

Volume of New Residential Real Estate Finance by Financing Companies (SAR mln)*

Period

2021

2022

Variation

January

391

264

(%32)

February

382

221

(%42)

March

515

--

--

April

343

--

--

May

254

--

--

June

193

--

--

July

191

--

--

August

337

--

--

September

350

--

--

October

287

--

--

November

264

--

--

December

260

--

--

*Does not include interest

 

 

Details and Historical Data of Banks' Key Indicators

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