767.2 billion riyals in real estate financing by the end of 2023
The latest data released by Saudi Central Bank (Sama), revealed that the total value of real estate financing provided by banks to companies and individuals recorded about 767.2 billion riyals by the end of last year 2023.The latest data revealed that the total value of real estate financing provided by banks to companies and individuals recorded about 767.2 billion riyals by the end of last year 2023.
The data showed that real estate financing provided by banks to companies reached 160 billion riyals, while mortgage financing provided to individuals recorded 607.2 billion riyals to reach its share of 79% of the total financing.<SAMA data also showed a decline in real estate financing contracts during the same period to record 102.8 thousand contracts last year, compared to 154.3 thousand contracts in 2022, a decrease of about 33%. While it indicated that real estate financing contracts had recorded the highest level in 2020 by about 225 thousand financing contracts.
Mortgage financing for apartments in 2023 decreased by about 26% from 2022, while mortgage financing for villas in 2023 decreased from the previous year by about 36%.
Also, mortgage financing for apartments in 2023 decreased by about 26% from the previous year.
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160 billion riyals in corporate financing.
607.2 billion financings for individuals.
102.8 thousand financing contracts in 2023.102.8 thousand financing contracts in 2023.
154.3 thousand financing contracts in 2022.
154.3 thousand financing contracts in 2022.
26% Decrease in apartment financings.
36% decline in villa financings.
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24.7 billion riyals in real estate fund assets
Saudi Central Bank (SAMA) data revealed that the assets of real estate funds licensed by the Capital Market Authority (CMA) reached 24.7 billion riyals by the end of the fourth quarter of last year.The investments of real estate funds accounted for 20% of the total assets of local and foreign investment funds to come in second place in terms of the total volume of investments.
Real estate fund investments accounted for 20% of the total assets of local and foreign investment funds to come in second place in terms of total volume of investments. SAMA data also showed that the assets of local and foreign investment funds in the Saudi market grew by about 5%, an increase of 5.46 billion riyals by the end of the fourth quarter of 2023, to total about 122.57 billion riyals, compared to 117.1 billion riyals at the end of the third quarter of the same year.
Real estate fund investments accounted for 20% of the total assets of local and foreign investment funds to come in second place in the total volume of investments.
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477.3 million riyals of real estate transactions during a week
Real estate exchange data and indicators revealed that 1022 properties worth 477.3 million riyals were traded in Saudi Arabia during the period from April 7 to 13, a decrease of 89% compared to the number of real estate transactions traded during the period from March 31 to April 6, which amounted to 9475 properties.
Data and indicators of the real estate exchange revealed that 1022 properties worth 477.3 million riyals were traded in the Kingdom of Saudi Arabia during the period from 7 to 13 April.
The data also showed that the volume of the traded area of real estate in the Kingdom during the second week of April amounted to about 3.5 million square meters, while the average price recorded 906 riyals per square meter, while the highest price recorded 18,481 riyals per square meter.
Real estate exchange data also showed that the number of real estate transactions in the Kingdom during the previous week from March 31 to April 6 reached 9629 transactions, and 9475 properties were traded during this period, reaching a total value of about 16.7 billion riyals.
Real estate exchange data also showed that the number of real estate transactions in the Kingdom during the previous week from March 31 to April 6 It indicated that the traded area of real estate from March 31 to April 6 amounted to about 212.9 million square meters, and the average price recorded SAR 3,209 per square meter, while the highest price recorded SAR 488,333 per square meter, and the transactions varied between (gift, deal, stop, deal with financing, update, release of mortgage).
The transactions varied between (gift, deal, stop, deal with financing, update, release of mortgage).
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Development Housing Statistics Q1 2024
The official account of “Developmental Housing and Community Engagement” at the Ministry of Municipal and Rural Affairs and Housing revealed the report and results of the first quarter of the current year 2024, as follows:
3000 ownership housing units to achieve family stability.
<4491 housing units will be pumped in the second quarter. 59,000 digital operations contributed to improving the experience of 48 partner associations to serve residents and deliver their units.
59,000 digital operations contributed to improving the experience of 48 partner associations to serve residents and deliver their units.
45 monitoring tours increased operational efficiency and quality of outputs.
19276 housing default support to achieve social protection.
19276 <8266 requests were processed to serve the beneficiaries.
