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Saudi Arabia's real estate deals hit SAR 11.6 bln last month
The value of real estate transactions concluded in Saudi Arabia declined by 39 percent in the month ending May 17 (Shaaban) to SAR 11.63 billion, compared to the same period of last year, data from the Saudi Justice Ministry showed.
The data showed that, for the last nine months (from the beginning of Hijri year on Sept. 22), the value of property deals decreased by eight percent to SAR 138 billion (YoY).
|
Total Value of Real Estate Transactions (SAR bln) |
|||
|
Month |
2016/2017 (1438) |
2017/2018 (1439) |
Variation |
|
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 |
-- |
-- |
|
June- July (Shawwal) |
11.6 |
-- |
-- |
|
July- Aug. (Dhul Qa’dah) |
21.5 |
-- |
-- |
|
Aug.- Sept. (Dhul Hijjah) |
7.7 |
-- |
-- |
|
Total |
203.2 |
-- |
-- |
In Shaaban, residential deals retreated by 36 percent YoY to SAR 8.8 billion. While commercial transactions fell by 45 percent to SAR 2.8 billion compared to the same period of last year.
|
Real Estate Transactions by Segment (SAR bln) |
||||||
|
|
Residential |
Commercial |
||||
|
Month |
2016/2017 (1438) |
2017/2018 (1439) |
Variation |
2016/2017 (1438) |
2017/2018 (1439) |
Variation |
|
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 |
+168% |
|
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 |
(45%) |
|
May- June (Ramadan) |
8.8 |
-- |
-- |
3.8 |
-- |
-- |
|
June- July (Shawwal) |
6.6 |
-- |
-- |
5.0 |
-- |
-- |
|
July- Aug. (Dhul Qa’dah |
12.5 |
-- |
-- |
9.0 |
-- |
-- |
|
Aug.- Sept. (Dhul Hijjah) |
5.2 |
-- |
-- |
2.5 |
-- |
-- |
|
Total |
129.6 |
-- |
-- |
73.7 |
-- |
-- |
Land sale transactions accounted for 89 percent of total deals at SAR 10.32 billion, while apartment sales amounted to SAR 588.7 million.
|
Transactions by real estate category (SAR mln) |
||||||
|
|
Residential |
Commercial |
||||
|
Type |
2017 (1438) |
2018 (1439) |
Variation |
2017 (1438) |
2018 (1439) |
Variation |
|
Plot of land |
12,304.3 |
7,738.4 |
(37%) |
4,946.2 |
2,581.9 |
(48%) |
|
Apartment |
828.7 |
571.5 |
(31%) |
33.8 |
17.2 |
(49%) |
|
Agricultural land |
302.9 |
209.6 |
(31%) |
143.5 |
114.5 |
(20%) |
|
Villa |
128.3 |
95.0 |
(26%) |
5.6 |
6.7 |
+20% |
|
Show room/shop |
116.4 |
99.6 |
(14%) |
10.3 |
1.5 |
(85%) |
|
Shopping mall |
1.4 |
1.0 |
(29%) |
1.7 |
86.9 |
+5,012% |
|
House |
59.7 |
58.9 |
(1%) |
5.9 |
3.0 |
(49%) |
|
Utility |
11.9 |
37.4 |
+214% |
-- |
-- |
-- |
|
Building |
20.6 |
5.9 |
(71%) |
5.8 |
-- |
-- |
|
Chalet |
1.2 |
3.8 |
+217% |
0.7 |
-- |
-- |
|
Total |
13,775.2 |
8,821.2 |
(36%) |
5,153.5 |
2,811.8 |
(45%) |
Riyadh saw the largest number of residential real estate deals at SAR 3.08 billion— 23 percent lower than the same month of last year.
Jeddah came second with SAR 1.21 billion worth of deals, a 53 percent drop YoY.
Riyadh also took the lead in commercial deals with SAR 1.11 billion, edging down 44 percent YoY.
|
Real estate transactions by city (SAR bln) |
||||||
|
|
Residential |
Commercial |
||||
|
City |
2017 (1438) |
2018 (1439) |
Variation |
2017 (1438) |
2018 (1439) |
Variation |
|
Riyadh |
3.98 |
3.08 |
(23%) |
1.98 |
1.11 |
(44%) |
|
Jeddah |
2.55 |
1.21 |
(53%) |
0.79 |
0.36 |
(54%) |
|
Mecca |
1.34 |
0.58 |
(57%) |
0.24 |
0.08 |
(67%) |
|
Medina |
1.16 |
0.31 |
(73%) |
0.43 |
0.33 |
(23%) |
|
Dammam |
0.78 |
0.43 |
(45%) |
0.32 |
0.17 |
(47%) |
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