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Saudi Arabia’s mortgage levels up by 21% YoY in Q2-19

Saudi Arabia’s mortgage levels up by 21% YoY in Q2-19
Banks provided 93.7% of mortgage in Q2

Riyadh – Mubasher: Saudi Arabian mortgage grew by 21% year-on-year to more than SAR 281 billion during the second quarter of 2019.

Banks provided 93.7% of mortgage in Q2-19, while financial companies granted 6.3%, according to the Saudi Arabia Monetary Authority.

Individuals received SAR 180.7 billion, or 64.2%, of mortgage provided in the kingdom in Q2-19, compared to SAR 138.6 billion in the year-ago period.

Meanwhile, companies secured SAR 100.7 billion real estate loans in Q2-19, up 7.2% from the comparative period of 2018.