#Saudi mortgage loans soar in 2019, with $18bn offered in year up until November - Arabianbusiness

Saudi mortgage loans soar in 2019, with $18bn offered in year up until November - Arabianbusiness:

Over 155,000 mortgage loans worth SR69 billion ($18bn) have been offered throughout 2019 up until November.

Figures released by the Saudi Arabian Monetary Authority (SAMA) show the number of housing loans was up 254 percent, while volume saw a 167 percent increase.

The monthly bulletin revealed that newly signed mortgages in the kingdom were up 13,000 to 20,525 in November compared to the corresponding period in 2018.

It also showed that financing grew by 154 percent last month year-on-year, hitting SR9bn ($2.4bn).