Saudi Arabian banknotes
Residential mortgages provided by banks to individuals fell by 10% year-on-year (YoY) to SAR 7.54 billion in January, data issued by the Saudi Central Bank (SAMA) showed.
For more details on residential, consumer loans on Argaam Tools
Compared to December 2023, residential mortgages rose by nearly SAR 1.3 billion, or 21%.
|
Residential Mortgages from Banks to Individuals (SAR mln)* |
|||
|
Month |
2023 |
2024 |
Change |
|
January |
8373 |
7539 |
(10%) |
|
February |
7138 |
-- |
-- |
|
March |
7251 |
-- |
-- |
|
April |
4146 |
-- |
-- |
|
May |
6801 |
-- |
-- |
|
June |
5969 |
-- |
-- |
|
July |
5425 |
-- |
-- |
|
August |
7142 |
-- |
-- |
|
September |
5837 |
-- |
-- |
|
October |
6766 |
-- |
-- |
|
November |
6655 |
-- |
-- |
|
December |
6237 |
-- |
-- |
*Doesn’t include interest.
Villa mortgages accounted for the largest share of the total bank financing provided in January, reaching 68%, or SAR 5.13 billion. Apartments and land plots followed with SAR 1.97 billion and SAR 440 million, respectively.
|
New Mortgages by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Lands |
|
Jan. 2023 |
5645 |
2315 |
413 |
|
February |
4964 |
1823 |
351 |
|
March |
5048 |
1745 |
457 |
|
April |
2781 |
1050 |
314 |
|
May |
4684 |
1734 |
383 |
|
June |
4244 |
1429 |
297 |
|
July |
3897 |
1226 |
301 |
|
August |
4967 |
1776 |
399 |
|
September |
3978 |
1563 |
297 |
|
October |
4455 |
1943 |
367 |
|
November |
4363 |
1964 |
328 |
|
December |
4307 |
1676 |
255 |
|
Jan. 2024 |
5132 |
1967 |
440 |
*Doesn’t include interest.
According to SAMA, nearly 10,500 contracts were signed between banks and retail clients in January, a decline of 5% YoY.
|
New Residential Mortgages by Banks* |
|||
|
Period |
2023 |
2024 |
Change |
|
January |
11113 |
10505 |
(5 %) |
|
February |
9574 |
-- |
-- |
|
March |
9526 |
-- |
-- |
|
April |
5270 |
-- |
-- |
|
May |
8888 |
-- |
-- |
|
June |
7615 |
-- |
-- |
|
July |
7058 |
-- |
-- |
|
August |
9054 |
-- |
-- |
|
September |
7767 |
-- |
-- |
|
October |
9177 |
-- |
-- |
|
November |
9164 |
-- |
-- |
|
December |
8647 |
-- |
-- |
The real estate mortgage provided by finance firms for individuals decreased by 12% YoY to SAR 273 million in January.
|
New Residential Mortgages by Finance Firms (SAR mln)* |
|||
|
Period |
2023 |
2024 |
Change |
|
January |
310 |
273 |
(12 %) |
|
February |
284 |
-- |
-- |
|
March |
228 |
-- |
-- |
|
April |
167 |
-- |
-- |
|
May |
235 |
-- |
-- |
|
June |
198 |
-- |
-- |
|
July |
193 |
-- |
-- |
|
August |
307 |
-- |
-- |
|
September |
265 |
-- |
-- |
|
October |
289 |
-- |
-- |
|
November |
310 |
-- |
-- |
|
December |
272 |
-- |
-- |
*Doesn’t include interest.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}