Mortgage loans provided to retail clients by banks in Saudi Arabia increased by 143 percent year-on-year (YoY) to SAR 6.04 billion in April 2019, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.
|
New Retail Housing Loans (SAR mln) |
|||
|
Period |
2018 |
2019 |
Variation |
|
January |
1,643 |
4,431 |
+170% |
|
February |
1,908 |
4,224 |
+121% |
|
March |
2,416 |
5,199 |
+115% |
|
April |
2,479 |
6,035 |
+143% |
|
May |
2,252 |
-- |
-- |
|
June |
959 |
-- |
-- |
|
July |
2,267 |
-- |
-- |
|
August |
1,510 |
-- |
-- |
|
September |
1,873 |
-- |
-- |
|
October |
3,054 |
-- |
-- |
|
November |
3,287 |
-- |
-- |
|
December |
3,366 |
-- |
-- |
*Excludes interest
Villa mortgages accounted for 81 percent, or SAR 4.91 billion of the total housing loans provided in April.
Apartments and land plots followed at SAR 636 million and SAR 489 million, respectively.
|
New Retail Housing Loans by Product Type (SAR mln)* |
|||
|
Period |
Villas |
Apartments |
Land |
|
January 2018 |
1,286 |
229 |
128 |
|
February |
1,451 |
298 |
159 |
|
March |
1,906 |
335 |
175 |
|
April |
2,016 |
286 |
176 |
|
May |
1,864 |
225 |
164 |
|
June |
791 |
104 |
64 |
|
July |
1,921 |
189 |
157 |
|
August |
1,251 |
144 |
115 |
|
September |
1,532 |
192 |
149 |
|
October |
2,511 |
324 |
219 |
|
November |
2,677 |
360 |
250 |
|
December |
2,788 |
355 |
224 |
|
January 2019 |
3,520 |
562 |
349 |
|
February |
3,436 |
466 |
322 |
|
March |
4,218 |
549 |
432 |
|
April |
4,910 |
636 |
489 |
*Excludes interest
A total of 13,712 contracts were signed between banks and retail clients in April 2019 – over a threefold rise YoY.
Financing firms provided new mortgages for residential units worth SAR 384 million in April, a 50 percent YoY increase.
SAMA issued new directives in May 2018 that require all banks and mortgage companies to provide mortgages to individuals, as per regulations.
|
New Contracts for Retail Housing Loans (SAR mln)* |
|||
|
Period |
2018 |
2019 |
Variation |
|
January |
2,553 |
9,062 |
+255% |
|
February |
2,959 |
9,049 |
+206% |
|
March |
3,716 |
11,506 |
+210% |
|
April |
3,894 |
13,712 |
+252% |
|
May |
3,707 |
-- |
-- |
|
June |
1,675 |
-- |
-- |
|
July |
4,031 |
-- |
-- |
|
August |
2,742 |
-- |
-- |
|
September |
3,490 |
-- |
-- |
|
October |
5,695 |
-- |
-- |
|
November |
6,307 |
-- |
-- |
|
December |
6,116 |
-- |
-- |
*Excludes interest
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