Saudi Arabian banknotes
Residential real estate finance provided for individuals by banks in Saudi Arabia fell by 37% year-on-year (YoY) to SAR 7.39 billion in November, data issued by the Saudi Central Bank (SAMA) showed.
Compared to October 2022, residential real estate finance retreated by nearly SAR 1.97 billion, or 21%.
|
New Retail Residential Real Estate Finance (SAR mln)* |
|||
|
Month |
2021 |
2022 |
Change |
|
January |
16829 |
12151 |
(28%) |
|
February |
14181 |
8784 |
(38%) |
|
March |
18040 |
15276 |
(15%) |
|
April |
15595 |
9219 |
(41%) |
|
May |
8906 |
8810 |
(1%) |
|
June |
8322 |
13122 |
+58% |
|
July |
9381 |
7189 |
(23%) |
|
August |
12736 |
12697 |
(0.3%) |
|
September |
12036 |
9930 |
(18%) |
|
October |
12139 |
9352 |
(23%) |
|
November |
11773 |
7386 |
(37%) |
|
December |
12602 |
-- |
-- |
Villa mortgages accounted for 69%, or SAR 5.13 billion, of total housing loans provided in November. Apartments and land plots followed with SAR 1.88 billion and SAR 380 million, respectively.
|
New Real Estate Finance by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2022 |
9403 |
2106 |
642 |
|
February |
6818 |
1498 |
468 |
|
March |
9224 |
2956 |
3096 |
|
April |
5902 |
1707 |
1610 |
|
May |
6785 |
1605 |
420 |
|
June |
9415 |
3167 |
540 |
|
July |
5392 |
1514 |
283 |
|
August |
8607 |
3618 |
472 |
|
September |
6708 |
2825 |
396 |
|
October |
6190 |
2717 |
445 |
|
November |
5127 |
1879 |
380 |
According to SAMA, 9,790 contracts were signed between banks and retail clients in November, a decline of 36% YoY.
|
Number of New Real Estate Finance Contracts by Banks* |
|||
|
Month |
2021 |
2022 |
Change |
|
January |
23298 |
16442 |
(29%) |
|
February |
18989 |
11615 |
(39%) |
|
March |
23380 |
18999 |
(19%) |
|
April |
19889 |
11255 |
(43%) |
|
May |
11495 |
10943 |
(5%) |
|
June |
11309 |
16487 |
+46% |
|
July |
12809 |
9047 |
(29%) |
|
August |
17143 |
16255 |
(5%) |
|
September |
15453 |
12902 |
(17%) |
|
October |
16223 |
12397 |
(24%) |
|
November |
15406 |
9785 |
(36%) |
|
December |
16087 |
-- |
-- |
Financing firms provided new real estate finance worth SAR 271 million in November, a rise of 3% YoY.
|
Number of New Real Residential Estate Finance Contracts by Financing Firms (SAR mln) |
|||
|
Month |
2021 |
2022 |
Change |
|
January |
391 |
264 |
(32%) |
|
February |
382 |
221 |
(42%) |
|
March |
515 |
304 |
(41%) |
|
April |
343 |
211 |
(38%) |
|
May |
254 |
148 |
(42%) |
|
June |
193 |
351 |
+82% |
|
July |
191 |
167 |
(13%) |
|
August |
337 |
284 |
(16%) |
|
September |
350 |
305 |
(13%) |
|
October |
287 |
280 |
(2%) |
|
November |
264 |
271 |
+3% |
|
December |
260 |
-- |
-- |
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