Saudi Arabias mortgage levels up by 21% YoY in Q2-19

PHOTO

Riyadh: 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.

Source: Mubasher

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.