Saudi Arabian banknotes
Residential mortgages provided by banks to individuals fell by 8% year-on-year (YoY) to SAR 6.6 billion in August, data issued by the Saudi Central Bank (SAMA) showed. 
Compared to July, residential mortgages retreated by nearly SAR 473 million, or 7%.
Residential Mortgages from Banks to Individuals (SAR mln)*
Month
2023
2024
Change
January
8,373
7,539
(10%)
February
7,138
6,941
(3%)
March
7,251
7,623
+5%
April
4,146
5,341
+29%
May
6,801
7,674
+13%
June
5,969
5,307
(11%)
July
5,425
7,072
+30%
August
7,142
6,599
(8%)
September
5,837
—
—
October
6,766
—
—
November
6,655
—
—
December
6,237
—
—
Villa mortgages accounted for the largest share of the total bank financing in August, reaching 57%, or SAR 3.79 billion. Apartments and land plots followed with SAR 2.45 billion and SAR 362 million, respectively.
New Mortgages by Product Type (SAR mln)*
Period
Villas
Apartments
Lands
Jan. 2024
5,132
1,967
440
February
4,529
1,980
433
March
4,912
2,237
474
April
3,681
1,389
270
May
5,114
2,153
408
June
3,427
1,616
263
July
4,380
2,262
429
August
3,791
2,446
362
According to SAMA, nearly 9,100 contracts were signed between banks and retail clients in August, an increase of 1% YoY.
Number of New Residential Mortgage Contracts by Banks
Period
2023
2024
Change
January
11,113
10,505
(5%)
February
9,574
9,504
(1%)
March
9,526
10,320
+8%
April
5,270
7,085
+34%
May
8,888
10,123
+14%
June
7,615
7,274
(4%)
July
7,058
9,605
+36%
August
9,054
9,109
+1%
September
7,767
—
—
October
9,177
—
—
November
9,164
—
—
December
8,647
—
—
The new residential mortgages provided by finance firms for individuals amounted to SAR 161 million in August, a decline of 48% YoY.
Number of New Residential Mortgage Contracts by Finance Firms (SAR mln)*
Period
2023
2024
Change
January
310
273
(12%)
February
284
268
(6%)
March
228
225
(1%)
April
167
143
(14%)
May
235
252
+ 7%
June
198
160
(19%)
July
193
193
—
August
307
161
(48%)
September
265
—
—
October
289
—
—
November
310
—
—
December
272
—
—
Saudi Arabian banknotes
Residential mortgages provided by banks to individuals fell by 8% year-on-year (YoY) to SAR 6.6 billion in August, data issued by the Saudi Central Bank (SAMA) showed.
Compared to July, residential mortgages retreated by nearly SAR 473 million, or 7%.
Residential Mortgages from Banks to Individuals (SAR mln)*
Month
2023
2024
Change
January
8,373
7,539
(10%)
February
7,138
6,941
(3%)
March
7,251
7,623
+5%
April
4,146
5,341
+29%
May
6,801
7,674
+13%
June
5,969
5,307
(11%)
July
5,425
7,072
+30%
August
7,142
6,599
(8%)
September
5,837
—
—
October
6,766
—
—
November
6,655
—
—
December
6,237
—
—
Villa mortgages accounted for the largest share of the total bank financing in August, reaching 57%, or SAR 3.79 billion. Apartments and land plots followed with SAR 2.45 billion and SAR 362 million, respectively.
New Mortgages by Product Type (SAR mln)*
Period
Villas
Apartments
Lands
Jan. 2024
5,132
1,967
440
February
4,529
1,980
433
March
4,912
2,237
474
April
3,681
1,389
270
May
5,114
2,153
408
June
3,427
1,616
263
July
4,380
2,262
429
August
3,791
2,446
362
According to SAMA, nearly 9,100 contracts were signed between banks and retail clients in August, an increase of 1% YoY.
Number of New Residential Mortgage Contracts by Banks
Period
2023
2024
Change
January
11,113
10,505
(5%)
February
9,574
9,504
(1%)
March
9,526
10,320
+8%
April
5,270
7,085
+34%
May
8,888
10,123
+14%
June
7,615
7,274
(4%)
July
7,058
9,605
+36%
August
9,054
9,109
+1%
September
7,767
—
—
October
9,177
—
—
November
9,164
—
—
December
8,647
—
—
The new residential mortgages provided by finance firms for individuals amounted to SAR 161 million in August, a decline of 48% YoY.
Number of New Residential Mortgage Contracts by Finance Firms (SAR mln)*
Period
2023
2024
Change
January
310
273
(12%)
February
284
268
(6%)
March
228
225
(1%)
April
167
143
(14%)
May
235
252
+ 7%
June
198
160
(19%)
July
193
193
—
August
307
161
(48%)
September
265
—
—
October
289
—
—
November
310
—
—
December
272
—
—
