Mortgage loans provided to retail clients by banks in Saudi Arabia surged by 102% year-on-year (YoY) to SAR 9.87 billion in August 2020, data issued by the Saudi Arabian Monetary Authority (SAMA) showed.
When compared to July, mortgage loans declined by around SAR 910 million YoY.
New Retail Housing Loans (SAR mln)* | |||
| Period** | 2019 | 2020 | Variation |
| January | 4431 | 9692 | +119% |
| February | 4224 | 10590 | +151% |
| March | 5199 | 10894 | +110% |
| April | 6035 | 7650 | +27% |
| May | 5252 | 7791 | +48% |
| June | 4097 | 13120 | +220% |
| July | 6762 | 10776 | +59% |
| August | 4892 | 9866 | +102% |
| September | 6640 | — | — |
| October | 8721 | — | — |
| November | 8523 | — | — |
| December | 9314 | — | — |
*Does not include interest
**Updated data from May 2019 through June 2020
Villa mortgages came on top, accounting for 79%, or SAR 7.79 billion, of total housing loans provided in August.
Apartments and land plots followed with SAR 1.52 billion and SAR 561 million, respectively.