SAR 500 currency notes
Residential real estate finance provided for individuals by banks in Saudi Arabia declined 41% year-on-year (YoY) to SAR 9.22 billion in April, data issued by the Saudi Central Bank (SAMA) showed.
When compared to March, mortgage loans fell by nearly SAR 6.06 billion.
The below table shows the development of the new housing loans for individuals:
|
New Retail Housing Loans (SAR mln)* |
|||
|
Month |
2021 |
2022 |
Change (%) |
|
January |
16,829 |
12,151 |
(28%) |
|
February |
14,181 |
8,784 |
(38%) |
|
March |
18,040 |
15,276 |
(15%) |
|
April |
15,595 |
9,219 |
(41%) |
|
May |
8,906 |
-- |
-- |
|
June |
8,322 |
-- |
-- |
|
July |
9,381 |
-- |
-- |
|
August |
12,736 |
-- |
-- |
|
September |
12,036 |
-- |
-- |
|
October |
12,139 |
-- |
-- |
|
November |
11,773 |
-- |
-- |
|
December |
12,602 |
-- |
-- |
*Does not include interest
Villa mortgages came on top, accounting for 64%, or SAR 5.9 billion, of total housing loans provided in April.
Apartments and Land plots followed with SAR 1.71 billion and SAR 1.61 billion, respectively.
|
New Retail Housing Loans 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 |
|
March |
9224 |
2956 |
3096 |
|
April |
5902 |
1707 |
1610 |
A total of 11,300 contracts, a decline of 43% YoY, were signed between banks and individuals in April.
|
New Retail Housing Loans Contracts by Banks* |
|||
|
Period |
2021 |
2022 |
Change |
|
January |
23298 |
16442 |
(29%) |
|
February |
18989 |
11615 |
(39%) |
|
March |
23380 |
18999 |
(19%) |
|
April |
19889 |
11255 |
(43%) |
|
May |
11495 |
-- |
-- |
|
June |
11309 |
-- |
-- |
|
July |
12809 |
-- |
-- |
|
August |
17143 |
-- |
-- |
|
September |
15453 |
-- |
-- |
|
October |
16223 |
-- |
-- |
|
November |
15406 |
-- |
-- |
|
December |
16087 |
-- |
-- |
Financing firms provided new loans worth nearly SAR 211 million for residential units in April, a drop of 39% YoY.
|
Volume of New Retail Housing Loans Contracts by Financing Companies (SAR mln)* |
|||
|
Period |
2021 |
2022 |
Change |
|
January |
391 |
264 |
(33%) |
|
February |
382 |
221 |
(42%) |
|
March |
515 |
304 |
(41%) |
|
April |
343 |
211 |
(39%) |
|
May |
254 |
-- |
-- |
|
June |
193 |
-- |
-- |
|
July |
191 |
-- |
-- |
|
August |
337 |
-- |
-- |
|
September |
350 |
-- |
-- |
|
October |
287 |
-- |
-- |
|
November |
264 |
-- |
-- |
|
December |
260 |
-- |
-- |
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