Saudi Arabian banknotes
Residential mortgages provided by banks to individuals rose 5% year-on-year (YoY) to SAR 7.62 billion in March, the highest increase in more than a year, data issued by the Saudi Central Bank (SAMA) showed. 
Moreover, residential mortgages grew nearly SAR 682 million, or 10%, compared to February 2024.
Residential Mortgages (SAR mln)*
Month
2023
2024
Change
January
8373
7539
(10%)
February
7138
6941
(3%)
March
7251
7623
+5%
April
4146
—
—
May
6801
—
—
June
5969
—
—
July
5425
—
—
August
7142
—
—
September
5837
—
—
October
6766
—
—
November
6655
—
—
December
6237
—
—
*Doesn’t include interest.
Villa mortgages accounted for 64%, or SAR 4.91 billion, of total housing loans provided inMarch. Apartments and land plots followed with SAR 2.24 billion and SAR 474 million, respectively.
New Mortgages by Product Type (SAR mln)*
Period
Villas
Apartments
Land
January2023
8373
7539
8373
February
7138
6941
7138
March
7251
7623
7251
April
4146
—
4146
May
6801
—
6801
June
5969
—
5969
July
5425
—
5425
August
7142
—
7142
September
5837
—
5837
October
6766
—
6766
November
6655
—
6655
December
6237
—
6237
January2024
8373
7539
8373
February
7138
6941
7138
March
7251
7623
7251
According to SAMA, over 10,300 contracts were signed between banks and retail clients in March, a YoY increase of 8%.
Number of New Real Estate Finance Contracts by Banks*
Month
2023
2024
Change
January
11113
10505
(5%)
February
9574
9504
(1%)
March
9526
10320
+8%
April
5270
—
—
May
8888
—
—
June
7615
—
—
July
7058
—
—
August
9054
—
—
September
7767
—
—
October
9177
—
—
November
9164
—
—
December
8647
—
—
*Doesn’t include interest
Financing firms provided new real estate finance worth SAR 225 million in March, a drop of 1% YoY.
Residential Real Estate Contracts by Financing Firms (SAR mln)
Month
2023
2024
Change
January
310
273
(12%)
February
284
268
(6%)
March
228
225
(1%)
April
167
—
—
May
235
—
—
June
198
—
—
July
193
—
—
August
307
—
—
September
265
—
—
October
289
—
—
November
310
—
—
December
272
—
—
Saudi Arabian banknotes
Residential mortgages provided by banks to individuals rose 5% year-on-year (YoY) to SAR 7.62 billion in March, the highest increase in more than a year, data issued by the Saudi Central Bank (SAMA) showed.
Moreover, residential mortgages grew nearly SAR 682 million, or 10%, compared to February 2024.
Residential Mortgages (SAR mln)*
Month
2023
2024
Change
January
8373
7539
(10%)
February
7138
6941
(3%)
March
7251
7623
+5%
April
4146
—
—
May
6801
—
—
June
5969
—
—
July
5425
—
—
August
7142
—
—
September
5837
—
—
October
6766
—
—
November
6655
—
—
December
6237
—
—
*Doesn’t include interest.
Villa mortgages accounted for 64%, or SAR 4.91 billion, of total housing loans provided inMarch. Apartments and land plots followed with SAR 2.24 billion and SAR 474 million, respectively.
New Mortgages by Product Type (SAR mln)*
Period
Villas
Apartments
Land
January2023
8373
7539
8373
February
7138
6941
7138
March
7251
7623
7251
April
4146
—
4146
May
6801
—
6801
June
5969
—
5969
July
5425
—
5425
August
7142
—
7142
September
5837
—
5837
October
6766
—
6766
November
6655
—
6655
December
6237
—
6237
January2024
8373
7539
8373
February
7138
6941
7138
March
7251
7623
7251
According to SAMA, over 10,300 contracts were signed between banks and retail clients in March, a YoY increase of 8%.
Number of New Real Estate Finance Contracts by Banks*
Month
2023
2024
Change
January
11113
10505
(5%)
February
9574
9504
(1%)
March
9526
10320
+8%
April
5270
—
—
May
8888
—
—
June
7615
—
—
July
7058
—
—
August
9054
—
—
September
7767
—
—
October
9177
—
—
November
9164
—
—
December
8647
—
—
*Doesn’t include interest
Financing firms provided new real estate finance worth SAR 225 million in March, a drop of 1% YoY.
Residential Real Estate Contracts by Financing Firms (SAR mln)
Month
2023
2024
Change
January
310
273
(12%)
February
284
268
(6%)
March
228
225
(1%)
April
167
—
—
May
235
—
—
June
198
—
—
July
193
—
—
August
307
—
—
September
265
—
—
October
289
—
—
November
310
—
—
December
272
—
—
