The volume of new residential financing for individuals in Saudi Arabia decreased by 21.5% during May 2023 on an annual basis, to reach 7.The value of financing from banks amounted to 6.80 billion riyals, compared to 8.81 billion riyals in May 2022, down by 22.8%.

The value of financing from banks amounted to 6.80 billion riyals, compared to 8.81 billion riyals in May 2022, down by 22.8%.

<Funding from companies amounted to 235 million riyals, compared to 148 million riyals in the same month last year, up by 58%. The volume of contracts during May decreased by 17.6%, compared to May 2022, which amounted to about 11.08 thousand contracts.

Month-on-month, the volume of contracts decreased by 17.6%, compared to May 2022, which amounted to about 11.08 thousand contracts. On a monthly basis, new residential financing for individuals in Saudi Arabia during last May increased by 63% from its value in the previous month (April 2023) of 4.31 billion riyals.