Taif emerges as a sanctuary for Arabian horse heritage    International Year of Camelids 2024 under Saudi Presidency concludes    Elm, One sign MoU to enhance strategic partnership and support local content in communications and marketing sector    Commerce Ministry recalls over 88,000 Anker portable chargers over fire risk    Trump says Israel has agreed on terms for 60-day ceasefire in Gaza    New evidence suggests Russian forces shot down Azerbaijan Airlines Flight 8243    Iran's president halts cooperation with UN nuclear watchdog, reports say    Inquiry finds British committed genocide on Indigenous Australians    BTS are back: K-pop band confirm new album and tour    Saudi FM receives message from Iranian counterpart    Cabinet reaffirms Saudi position of resolving conflicts through diplomatic means    Foreign Trade Authority leads Saudi negotiating team in second round of GCC-Japan FTA Talks    Inzaghi hails 'historic' Al Hilal win over Man City: We climbed a mountain with no oxygen    Milinković-Savić says Al Hilal proved critics wrong after historic win over Man City    Al Hilal stuns Man City and stirs the world: 'One of the greatest nights in Saudi club football'    AlUla becomes favorite global summer destination for photography enthusiasts    Michelin Guide launches in Saudi Arabia with phased rollout in 2025    Al Hilal stun Manchester City in seven-goal thriller to reach Club World Cup quarterfinals    'How fragile we are': Roskilde Festival tragedy remembered 25 years on    Historic Jeddah's visual identity re-imagined through global art installations at Al-Arbaeen Lagoon    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Pakistani star's Bollywood return excites fans and riles far right    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



"SAMA": Mortgages loans reached 208,505 Contracts until Q3 of 2020
Published in Saudi Press Agency on 29 - 10 - 2020

Residential new mortgage loans for individuals reached 208,505 contracts, valued more than 96.7 billion, provided by all real estate financing institutions and banks, until the third quarter 2020.
According to the monthly report issued by the Saudi Arabian Monetary Authority "SAMA", they registered a growth of 90% in the number of loans and about 84% in loans compared to the same quarters of 2019.
The report announced that mortgage loans in September 2020 recorded the highest historical number with 27,889 contracts by increase 66%. Housing loans last month worth SR 13.3 billion with 87% grow comparing to September 2019, that recorded 16,812 contracts with a value of 7.1 billion. September mortgage loans also increased by 26% and 32% in value from the previous month, August 2020.
"SAMA" report indicates that 97% of newly signed mortgage loans were concluded through banks, while 3% of them through financing companies. The 26,779 housing product loans subsidized by government programs concluded in September 2020, constituted 96% of the total number of contracts with a value of 12.6 billion, or about 94% of the value of the funds.
In September, residential villas acquired the largest portion of funding with 10.7 billion, or about 80% of the total funding provided by banks and financing companies. Residential apartments came in second with 1.9 billion (15%). Residential lands come in third with 6.5 million (5%).
Real estate mortgage in 2019 jumped 3 times in a historical performance with 179,217 contracts with value of SR 79,128 billion comparing to that offered in 2018 of 50,496 contracts with a value of 29.5 billion, in 2017 about 30,833 contracts with value of 21,025 billion, while 2016 was about 22,259 contracts worth 17,096 billion.


Clic here to read the story from its source.