Data released by Saudi Central Bank (Sama) revealed a 36.5% decline in the volume of new residential mortgage financing granted by financing companies in the Kingdom during last June to register 160 million riyals compared to 252 million riyals in the previous May.

Data released by Saudi Central Bank (Sama) revealed a decline of 36.5% in the volume of new residential mortgage finance for individuals from financing companies in the Kingdom during last June, compared to 252 million riyals in the previous May. SAMA data also showed that the volume of new residential mortgage for individuals granted by finance companies during the first half of this year amounted to 1.32 billion riyals.

According to the data, new residential mortgage financing for individuals granted by finance companies in the Kingdom during the first half of this year amounted to 1.32 billion riyals. According to the data, apartments accounted for the largest share of the total residential real estate financing, amounting to 72 million riyals, representing 45% of the total volume of financing, while villas came in second place with 71 million riyals, representing 44%, followed by land with 18 million riyals and 11%.

According to the data, the largest share of the total residential real estate financing amounted to 72 million riyals, representing 11%. It is worth noting that the volume of real estate financing Residential financing for individuals provided by banks in the Kingdom during June 2024 recorded a decline of 31%, reaching 5.3 billion riyals compared to 7.7 billion riyals in May.