Housing rent prices decline, mortgage loans jump by 32%

Saudi Jadwa Investment Company said that prices in the “housing and utilities” category continued to decline during August, due to the decrease in prices in the sub-category “housing rents” by 4.2%, on an annual basis, and by 0.2%, on a monthly basis.

On an annual basis, the consumer price index (inflation) rose in August by 0.3%, and on a monthly basis rose by 0.1%.

Within the consumer price index, the prices of the “food and beverages” category increased by 1.9%, on an annual basis, and by 0.8%, on a monthly basis.

Prices of the “transport” category rose by 6.5%, on an annual basis, although it dropped by 0.3%, on a monthly basis.

New housing mortgages for individuals jumped in August by 32%, on an annual basis, and by 55%, on a monthly basis, following two regressions, on an annual basis, in both June and July, Jadwa said.

It added that cement sales and production declined in August by 4.7%%, and 2.9%, on an annual basis, respectively. However, both went up, on a monthly basis, and increased by 12%, 13.4 percent, respectively.