An official source revealed that last May witnessed a remarkable rise in the number of contracts or the value of financing, surpassing the previous twelve months, as the number of residential real estate loans granted reached 2,826 contracts with a total value of more than 1.8 billion riyals, an increase of 15% from the previous month (April 2017).

According to the source, residential real estate loans to individuals increased by 31% compared to the similar month of the previous year, and in general, May 2017 is the highest in the value of residential financing since January 2016.

Amlak sources indicated that the average ratio of the maximum financing limit for financing granted during the month of May 2017 amounted to 75% and the ratio is still below the permitted limit, noting that the average ratio of the maximum limit for real estate financing granted before the decision to increase the limit to 85% was about 65%, while the average increased during the past three months to 74%

Amlak newspaper sources pointed out that the average ratio of the maximum limit for real estate financing granted before the decision to increase the limit to 85%. In the same direction, villa financing dominated the largest share by 62% and apartments 28%, while land financing did not exceed 10% of the total financing during May 2017.