{"id":32995,"date":"2021-10-02T17:30:06","date_gmt":"2021-10-02T14:30:06","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=32995"},"modified":"2021-10-02T17:30:06","modified_gmt":"2021-10-02T14:30:06","slug":"870-%d8%b9%d9%82%d8%af-%d8%aa%d9%85%d9%88%d9%8a%d9%84-%d8%b3%d9%83%d9%86%d9%8a-%d9%8a%d9%88%d9%85%d9%8a%d9%8b%d8%a7-%d9%88%d8%a7%d9%84%d8%b4%d9%82%d9%82-%d8%aa%d8%aa%d8%b5%d8%af%d8%b1-%d8%a7","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/32995\/","title":{"rendered":"870 housing finance contracts per day... with \u201dapartments\u201d leading the way"},"content":{"rendered":"

Last August, Saudi banks signed approximately 870 residential financing contracts with individuals per day, for a monthly total of 26,974 contracts worth a total of 12.994 billion riyals, after the number of contracts rose by 45.9% between July and August, up from 18,486 financing contracts.

Recent data showed that residential financing granted to individuals rose significantly last month after recording low figures over the previous three months, during which the number of contracts ranged from 17.166 in May and 18,486 in July.

Apartments Lead the Way in Financing
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The data showed that all categories of housing finance saw a monthly increase in August, with the highest increase recorded in financing for apartment purchases, which rose by 59.5%, from 1.481 billion riyals to 2.362 billion riyals, while financing for villa purchases rose by 54%, increasing from 6.572 billion to 10.122 billion riyals, Land financing, however, showed the lowest value and the smallest increase, rising by 47.8% from 345 million to 510 million riyals, bringing the total increase in the value of financing contracts to 54.7%, up from 8.398 billion riyals to 12.994 billion riyals.

Annual Growth in Funding<\/span><\/strong>

Housing finance saw modest year-over-year growth in the number of contracts, with the number of contracts rising by 0.9% between the second quarter of 2020 and the second quarter of 2021, increasing from 59,455 contracts to 60,018 financing contracts, Apartment financing led the way, with the value of financing rising by 36.9%, from 3.646 billion riyals to 4.991, while villa financing grew by 2.6%, rising from 23.516 billion to 24.125, and the value of land financing decreased by 22%, falling from 1 billion riyals to 1.147, This affected the total volume of financing provided, which rose by 5.9%, driven by modest growth in villa financing and a decline in land financing, bringing the total financing to 30.264 billion riyals, up from 28.561 billion riyals.

Personal Loans Double Those of Banks<\/strong><\/span>

The high demand for housing finance among individuals led to a 53.7% year-over-year increase in mortgage loans granted to individuals, bringing the value of these loans to twice that of loans granted to companies, with individual loans totaling approximately 250.287 billion riyals in the second quarter of 2020, rising to 384.668 billion riyals in the corresponding quarter of 2021, Corporate loans, meanwhile, rose by 7.7%, increasing from 109.608 billion to 118.067 billion riyals, bringing the total increase in mortgage loans over the year to 39.7%, rising from 359.896 billion riyals to 502.735 billion riyals.<\/p>","protected":false},"excerpt":{"rendered":"

Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>Last August, Saudi banks issued approximately 870 residential financing contracts to individuals per day, for a monthly total of 26,974 contracts worth a total of 12.994 billion riyals, after the number of contracts rose by 45.Recent data showed that housing financing granted to individuals rose last month \u2026 Read more<\/a><\/p>","protected":false},"author":11,"featured_media":33003,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[100],"tags":[],"class_list":["post-32995","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-residential"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/719153.jpg",1000,663,false],"thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/719153-150x150.jpg",150,150,true],"medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/719153-300x199.jpg",300,199,true],"medium_large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/719153-768x509.jpg",768,509,true],"large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/719153.jpg",1000,663,false],"1536x1536":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/719153.jpg",1000,663,false],"2048x2048":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/719153.jpg",1000,663,false],"trp-custom-language-flag":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/719153.jpg",18,12,false],"event-thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/719153-300x200.jpg",300,200,true],"event-medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/719153-600x400.jpg",600,400,true],"event-large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/719153.jpg",1000,663,false],"event-hero":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2021\/10\/719153.jpg",1000,663,false]},"author_info":{"info":["\u0623\u0645\u0644\u0627\u0643 \u0627\u0644\u0631\u064a\u0627\u0636"]},"category_info":"\u0633\u0643\u0646\u064a<\/a>","tag_info":"\u0633\u0643\u0646\u064a","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/32995","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=32995"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/32995\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media\/33003"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=32995"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=32995"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=32995"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}