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Saudi Arabia's real estate deals fall slightly to SAR 18.2 bln last month
Riyadh city
The value of Saudi Arabia's real estate transactions declined slightly to nearly SAR 18.22 billion in October-November 2021 (Rabi' Al Awwal 1443 Hijri year), compared to SAR 18.21 billion in the same period last year, Ministry of Justice data showed.
The real estate deals increased by 24%, or SAR 3.6 billion, month-on-month (MoM).
The number of the real estate transactions during the same period stood at around 21,900, compared with nearly 29,600 a year earlier. The number of properties sold also fell to 23,300 for the same period.
|
Total Value of Real Estate Market Transactions (SAR bln) |
|||
|
Month* |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
|
Aug. - Sept. (Muharram) |
13.23 |
15.64 |
+18% |
|
Sept. - Oct. (Safar) |
11.80 |
14.65 |
+24% |
|
Oct. - Nov. (Rabi Al Awwal) |
18.21 |
18.22 |
(0.04%) |
|
Nov. - Dec. (Rabi Al Thani) |
18.76 |
-- |
-- |
|
Dec. - Jan. (Jumada Al Awwal) |
14.49 |
-- |
-- |
|
Jan. - Feb. (Jumada Al Thani) |
18.79 |
-- |
-- |
|
Feb. - March (Rajab) |
23.26 |
-- |
-- |
|
March - April (Sha’ban) |
23.39 |
-- |
-- |
|
April - May (Ramadan) |
15.26 |
-- |
-- |
|
May - June (Shawwal) |
11.78 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
17.39 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
11.91 |
-- |
-- |
|
Total |
198.29 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
The value of residential deals increased by 4% year-on-year (YoY) to SAR 10.97 billion.
Meanwhile, commercial real estate deals fell 17% YoY to SAR 5.64 billion. The agricultural industrial deals were valued at nearly SAR 1.61 billion last month.
The residential deals represented 60.2% of total real estate deals last month, while commercial and agricultural industrial deals represented 31% and 8.8%, respectively.
|
Real Estate Market Transactions in Detail (SAR bln) |
||||||
|
|
Residential |
Commercial |
||||
|
Month* |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
|
Aug. - Sept. (Muharram) |
9.69 |
9.13 |
(6%) |
2.74 |
5.21 |
+90% |
|
Sept. - Oct. (Safar) |
8.14 |
8.97 |
+10% |
3.02 |
4.52 |
+50% |
|
Oct. - Nov. (Rabi Al Awwal) |
10.58 |
10.97 |
+4% |
6.78 |
5.64 |
(17%) |
|
Nov. - Dec. (Rabi Al Thani) |
10.51 |
-- |
-- |
6.65 |
-- |
-- |
|
Dec. – Jan. (Jumada Al Awwal) |
9.51 |
-- |
-- |
3.41 |
-- |
-- |
|
Jan. - Feb. (Jumada Al Thani) |
12.73 |
-- |
-- |
4.82 |
-- |
-- |
|
Feb. - March (Rajab) |
14.53 |
-- |
-- |
5.83 |
-- |
-- |
|
March - April (Sha’ban) |
15.92 |
-- |
-- |
5.48 |
-- |
-- |
|
April - May (Ramadan) |
9.62 |
-- |
-- |
4.27 |
-- |
-- |
|
May - June (Shawwal) |
7.18 |
-- |
-- |
3.48 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
10.68 |
-- |
-- |
5.54 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
6.61 |
-- |
-- |
4.21 |
-- |
-- |
|
Total |
125.69 |
-- |
-- |
56.26 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
Land sale transactions accounted for nearly 88.7%, or SAR 16.2 billion, of total realty deals in October-November 2021, followed by the agricultural land sales with a value of SAR 1.03 billion.
The below table shows real estate market transactions by type in October- November 2021:
|
Real Estate Market Transactions by Type (SAR mln) |
||
|
Type |
Transaction Value |
Percentage to total |
|
Land Plot |
16153.4 |
88.7% |
|
Agricultural Land |
1026.5 |
5.6% |
|
Apartment |
861.6 |
4.7% |
|
Villa |
119.5 |
0.7% |
|
House |
20.9 |
0.1% |
|
Palace |
16.3 |
0.1% |
|
Mall |
6.8 |
0.04% |
|
Showroom/Shop |
6.7 |
0.04% |
|
Utility |
3.2 |
0.02% |
|
Chalet |
0.3 |
-- |
|
Building |
0.3 |
-- |
|
Total |
18215.5 |
100% |
Land space rose 185% to 618.9 million square meters (sqm), compared with the same period of 2020, when it reached 216.8 million sqm.
|
Total Area of Real Estate Market Transactions (mln sqm) |
|||
|
Month |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
|
Aug. - Sept. (Muharram) |
177.66 |
529.24 |
+198% |
|
Sept. - Oct. (Safar) |
139.64 |
569.32 |
+308% |
|
Oct. - Nov. (Rabi Al Awwal) |
216.80 |
618.86 |
+185% |
|
Nov. - Dec. (Rabi Al Thani) |
222.62 |
-- |
-- |
|
Dec. – Jan. (Jumada Al Awwal) |
165.29 |
-- |
-- |
|
Jan. - Feb. (Jumada Al Thani) |
253.47 |
-- |
-- |
|
Feb. - March (Rajab) |
288.01 |
-- |
-- |
|
March - April (Sha’ban) |
386.70 |
-- |
-- |
|
April - May (Ramadan) |
344.85 |
-- |
-- |
|
May - June (Shawwal) |
335.10 |
-- |
-- |
|
June - July (Dhul Qa’dah) |
516.76 |
-- |
-- |
|
July - Aug. (Dhul Hijjah) |
311.63 |
-- |
-- |
|
Total |
3358.56 |
-- |
-- |
*Data is updated on a periodic basis, according to the Saudi Ministry of Justice.
Riyadh was the most active city by value of residential and commercial transactions, reaching SAR 7.7 billion. Jeddah took the second place with transactions worth SAR 2.01 billion in October-November 2021.
|
Real Estate Transactions in Major Cities in Oct. – Nov. (Rabi Al Awwal) (SAR mln) |
||||||
|
City |
Residential |
Commercial |
||||
|
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
2020/2021 (1442) |
2021/2022 (1443) |
Variation |
|
|
Riyadh |
4023.6 |
3890.8 |
(3%) |
2682.6 |
3813.9 |
42%+ |
|
Jeddah |
1872.2 |
1529.7 |
(18%) |
2305.9 |
481.2 |
(79%) |
|
Madinah |
397.8 |
944.2 |
+137% |
117.7 |
122.2 |
4%+ |
|
Al Ahsa |
350.2 |
870.4 |
+149% |
55.5 |
41.0 |
(26%) |
|
Al Khobar |
451.5 |
654.8 |
+45% |
247.7 |
177.7 |
(28%) |
|
Makkah |
736.1 |
517.5 |
(30%) |
98.9 |
98.8 |
(0.1%) |
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