Saudi retail mortgage loans jumped 43% in 2018

Mortgage loans provided to retail clients by banks in Saudi Arabia jumped 43 percent year-on-year (YoY) to SAR 27.02 billion in 2018, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.

New Retail Housing Loans (SAR bln)*
Period	Value	Variation
2016	14.93	--
2017	18.92	+27%
2018	27.02	+43%

*Doesn’t include interest

In Q4, retail housing loans rose 20 percent YoY to SAR 9.7 billion.

New Retail Housing Loans (SAR mln)*
Period	2017	2018	Variation
Q1	3,701	5,968	+61%
Q2	4,687	5,690	+21%
Q3	4,703	5,650	+20%
Q4	5,832	9,707	+66%
Total	18,923	27,015	+43%

*Doesn’t include interest

Villa mortgages accounted for 81 percent, or SAR 22 billion, of the total housing loans given in 2018.

Apartments and land plots followed at SAR 3.04 billion and SAR 1.98 billion, respectively.

New Retail Housing Loans by Product Type (SAR mln)*
Period	Villas	Apartments	Land
Q1	4,643	862	462
Q2	4,671	615	404
Q3	4,704	525	421
Q4	7,976	1,039	693
Total	21,995	3,041	1,980

*Doesn’t include interest

The total of 46,900 contracts were signed between banks and individuals during the year, a 65 percent YoY increase.

The Number of New Retail Housing Loans Contracts By Banks (SAR mln)*
Period	2017	2018	Variation
Q1	5,474	9,228	+69%
Q2	6,876	9,276	+35%
Q3	7,196	10,263	+43%
Q4	8,923	18,118	+103%
Total	28,469	46,885	+65%

In 2018, financing firms provided new mortgages for residential units worth SAR 2.49 billion, an 18 percent YoY rise.

SAMA issued new directives in May obligating all banks and mortgage companies to provide mortgages to individuals, as per the due regulations.

The Number of New Retail Housing Loans Contracts by Financing Companies (SAR mln)*
Period	2017	2018	Variation
Q1	609	438	(28%)
Q2	463	650	+40%
Q3	443	532	+20%
Q4	588	868	+48%
Total	2,102	2,488	+18%

*Doesn’t include interest

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