The Real Estate Index revealed that real estate loans granted by commercial banks in Saudi Arabia increased by 12.75% at the end of the third quarter of this year on an annualized basis, an increase of 84.52 billion riyals from their volume at the end of the same quarter of last year 2022.
Cumulative loan growth
According to the latest data released by the Saudi Central Bank (SAMA), the value of cumulative real estate loans granted by commercial banks increased to SAR 747.2 billion during the same period compared to SAR 662.69 billion at the end of the corresponding quarter of 2022.The value of cumulative real estate loans granted by commercial banks increased to SAR 747.2 billion during the same period. Real estate loans granted by commercial banks in the Kingdom increased by 2.18% during the third quarter of 2023, equivalent to 15.92 billion riyals, compared to the value of 731.28 billion riyals at the end of the previous quarter.
Third Quarter Loans
Saudi Central Bank data also revealed that the value of real estate loans from commercial banks to individuals during the third quarter of this year recorded about 9.35 billion riyals, compared to loans amounting to 6.57 billion riyals for companies.
The value of real estate loans from commercial banks to individuals during the third quarter of this year. Individuals accounted for 79.19% of the total real estate loans granted by commercial banks in the Kingdom at the end of the third quarter of this year, compared to 20.81% for companies.
591.7 billion riyals
While the total balance of real estate loans granted by commercial banks to individuals recorded 591.7 billion riyals at the end of the third quarter of 2023, compared to 529.57 billion riyals at the end of the same quarter of 2022, increasing by 62.13 billion riyals and a growth rate of 11.7%.
While the cumulative value of real estate loans granted by commercial banks to companies recorded 155.5 billion riyals at the end of the third quarter of 2023, compared to 133.12 billion riyals at the end of the same quarter of last year, increasing during that period by 22.39 billion riyals, or 16.8%.
The cumulative value of real estate loans granted by commercial banks to companies increased by 22.39 billion riyals, a growth rate of 16.8%.
Mortgage loans granted by commercial banks in the first three quarters of 2023 increased by 8.6% and amounted to 59.37 billion riyals, compared to the value of 687.83 billion riyals at the end of the fourth quarter of 2022.
The value of real estate loans granted by commercial banks in the first three quarters of 2023 increased by 8.6% and amounted to 59.37 billion riyals.
Mortgage loans from banks
==
for individuals
591.7 billion riyals as of the third quarter.
62.13 billion riyals year-on-year increase.
11.7%. Growth rate
====
Corporate
155.5 billion riyals.
22.39 billion riyals annual increase.
16.8% annualized rate of increase.
=====
====
Tape
Mortgage loans during the third quarter
====
15.92 billion riyals in bank loans.
===
SAR 9.35 billion in bank loans to individuals.
===
6.57 billion riyals in loans from companies.
6.57 billion riyals in loans from companies.
=== ==
======== ==
6.24 billion riyals traded by the real estate bourse in a week
Real estate bourse trades during last week
Number of trades: 6,235
Trade value: 6.24 billion riyals
Area traded: 15,710,842 square meters.
==
Highest price: 89,609 SAR/square meter.
====
Median price: 397 SAR/square meter.
== == ==
The most traded neighborhoods in Riyadh
Sahab
Value of deals: 72 million riyals
Number of transactions: 472
===
Neighborhood
Deal value: SAR 167 million
Number of transactions: 203
===
Rimal
Deal value: SAR 109 million
Number of transactions: 105
==
Badr
Deal value: 66 million riyals
Number of transactions: 94
==
DistrictNamar
Deal value: 56 million riyals
Number of transactions: 94
= == =
