The new residential real estate finance contracts for individuals in Saudi Arabia this year witnessed a growth of 171.7 thousand contracts, worth 87.7 billion riyals, while the new residential mortgage contracts for individuals reached during the past year. Last July, 18.7 thousand contracts worth 8.6 billion riyals, according to the monthly bulletin issued by SAMA.
The new residential real estate financing contracts from January to July of the same year recorded an annual growth of more than 8% and about 20% in financing compared to the same months of last year 2020. Which recorded 158.5 thousand contracts with a value of more than 73.2 billion riyals.
The new housing finance contracts achieved a growth in July 2021 that exceeded 5% compared to last June, which recorded 17.7 thousand contracts, while the financing provided by all banks and finance companies increased Real estate on a monthly basis by about 12% compared to June, which recorded 7.7 billion riyals.
