The value of real estate transactions in Saudi Arabia in the month ending Aug. 12 (Dhul Qa’dah) dropped 51 percent year-on-year (YoY) to SAR 10.5 billion, data issued by the justice ministry showed.
Compared to the previous month of Shawwal, transactions rose 35 percent.
The value of property deals over the past 11 months (since the beginning of the Hijri year on Sept. 22) dropped 15 percent YoY to SAR 166.4 billion.
|
Total Value of Real Estate Market Transactions (SAR bln) |
|||
|
Month |
2016/2017 (1438) |
2017/2018 (1439) |
Variation (YoY) |
|
Sept.-Oct. (Muharram) |
20.9 |
14.8 |
(29%) |
|
Oct.- Nov. (Safar) |
16.5 |
17.4 |
+5% |
|
Nov.- Dec. (Rabi Al Awwal) |
22.1 |
23.6 |
+7% |
|
Dec. –Jan. (Rabi Al Thani) |
17.2 |
34.3 |
+99% |
|
Jan. -Feb. (Jumada Al Awwal) |
16.7 |
12.5 |
(25%) |
|
Feb.- March (Jumada Al Thani) |
19.6 |
12.1 |
(38%) |
|
March- April (Rajab) |
17.8 |
11.6 |
(34%) |
|
April- May (Sha’ban) |
18.9 |
11.6 |
(39%) |
|
May- June (Ramadan) |
12.6 |
10.2 |
(19%) |
|
June- July (Shawwal) |
11.6 |
7.8 |
(33%) |
|
July- Aug. (Dhul Qa’dah) |
21.5 |
10.5 |
(51%) |
|
Aug.- Sept. (Dhul Hijjah) |
7.7 |
-- |
-- |
|
Total |
203.2 |
-- |
-- |
The decline in real estate deals for Dhul Qa’dah was attributed to residential and commercial deals declining 42 percent and 63 percent, respectively.
|
Total Value of Real Estate Market Transactions (SAR bln) |
||||||
|
|
Residential |
Commercial |
||||
|
Month |
2016/2017 (1438) |
2017/2018 (1439) |
Variation (YoY) |
2016/2017 (1438) |
2017/2018 (1439) |
Variation (YoY) |
|
Sept.-Oct. (Muharram) |
11.3 |
10.5 |
(7%) |
9.6 |
4.3 |
(55%) |
|
Oct.- Nov. (Safar) |
11.2 |
12.9 |
+15% |
5.3 |
4.5 |
(15%) |
|
Nov.- Dec. (Rabi Al Awwal) |
12.8 |
16.0 |
+25% |
9.4 |
7.6 |
(19%) |
|
Dec. –Jan. (Rabi Al Thani) |
11.3 |
18.6 |
+65% |
5.9 |
15.8 |
+169% |
|
Jan. -Feb. (Jumada Al Awwal) |
11.1 |
8.7 |
(22%) |
5.6 |
3.8 |
(32%) |
|
Feb.- March (Jumada Al Thani) |
12.6 |
9.2 |
(27%) |
7.0 |
2.9 |
(59%) |
|
March- April (Rajab) |
12.3 |
9.3 |
(24%) |
5.5 |
2.3 |
(58%) |
|
April- May (Sha’ban) |
13.8 |
8.8 |
(36%) |
5.2 |
2.8 |
(46%) |
|
May- June (Ramadan) |
8.7 |
5.8 |
(33%) |
3.8 |
4.4 |
+16% |
|
June- July (Shawwal) |
6.6 |
6.6 |
-- |
5.0 |
1.2 |
(76%) |
|
July- Aug. (Dhul Qa’dah |
12.5 |
7.2 |
(42%) |
9.0 |
3.3 |
(63%) |
|
Aug.- Sept. (Dhul Hijjah) |
5.2 |
-- |
-- |
2.5 |
-- |
-- |
|
Total |
129.6 |
-- |
-- |
73.7 |
-- |
-- |
Sales of residential and commercial land amounted to SAR 8.9 billion, accounting for 85 percent of total real estate deals. Agricultural land deals followed at SAR 899 million.
|
Real Estate Market Transactions by Type in July /August (Dhul Qa’dah) (SAR mln) |
||||||
|
|
Residential |
Commercial |
||||
|
Type |
2017 (1438) |
2018 (1439) |
Variation (YoY) |
2017 (1438) |
2018 (1439) |
Variation (YoY) |
|
Plot of land |
10,949.9 |
5,729.9 |
(48%) |
8,724.8 |
3,172.1 |
(64%) |
|
Agricultural land |
303.1 |
804.4 |
+165% |
180.3 |
94.2 |
(48%) |
|
Apartment |
900.0 |
477.9 |
(47%) |
26.8 |
11.6 |
(57%) |
|
Villa |
102.7 |
93.1 |
(9%) |
5.5 |
5.0 |
(9%) |
|
Show room/shop |
90.2 |
62.8 |
(30%) |
1.9 |
1.7 |
(11%) |
|
House |
57.0 |
45.9 |
(19%) |
2.4 |
1.9 |
(21%) |
|
Utility |
61.1 |
15.8 |
(74%) |
9.0 |
-- |
-- |
|
Building |
7.5 |
8.2 |
+9% |
9.4 |
1.8 |
(81%) |
|
Chalet |
4.0 |
2.2 |
(45%) |
1.3 |
0.1 |
(92%) |
|
Shopping mall |
3.2 |
0.9 |
(72%) |
27.5 |
-- |
-- |
|
Palace |
0.6 |
-- |
-- |
-- |
-- |
-- |
|
Total |
12,479.3 |
7,241.0 |
(42%) |
8,988.7 |
3,288.4 |
(63%) |
Riyadh saw the largest number of residential real estate deals at SAR 1.96 billion, 52 percent lower than the same month of last year. Jeddah followed at SAR 1 billion, a 42 percent YoY decrease.
Riyadh also took the lead in commercial deals worth SAR 1.4 billion.
|
Real Estate Transactions in Major Cities in July /August (Dhul Qa’dah) (SAR bln) |
||||||
|
|
Residential |
Commercial |
||||
|
City |
2017 (1438) |
2018 (1439) |
Variation |
2017 (1438) |
2018 (1439) |
Variation |
|
Riyadh |
4.09 |
1.96 |
(52%) |
1.98 |
1.40 |
(29%) |
|
Jeddah |
1.71 |
0.99 |
(42%) |
4.09 |
0.59 |
(86%) |
|
Mecca |
1.79 |
0.60 |
(66%) |
0.18 |
0.15 |
(17%) |
|
Dareiyah |
0.08 |
0.71 |
+788% |
0.05 |
0.02 |
(60%) |
|
Dammam |
0.79 |
0.35 |
(56%) |
0.67 |
0.30 |
(55%) |
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