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Kuwait’s real estate market is booming in Q1 of 2019

Kuwait - April 23, 2019

Kuwait’s real estate market has witnessed a remarkable activity during the first quarter of 2019 in all its sectors amid an ongoing state of steadiness and stability, which is most likely to last until the end of this year.

Obviously, the real estate sector, in general, continues to generate attractive profits in light of the current absence of other investment opportunities in the market, in addition to its value as one of the main necessities for citizens and residents.

Despite its sectors’ eminent activity early this year, Kuwait’s real estate market has gone through a recession last March due to owners’ redirecting their investments toward Kuwait Bourse, which saw, at that time, a considerable increase that prompted several investors to leave real estate temporarily for better chances in stocks.

Residential real estate, which makes up a substantial segment of the rental housing market, saw a balance in rental trends in the first quarter, where rental prices for two-room apartments at Capital and Hawally governorates were estimated between KD 240 and 290 monthly, equaling USD 790 and 960.

Meanwhile, Kuwait’s real estate market activity during the first quarter of 2019 focused on the residential sector in most areas, particularly the new ones, Kuwaiti real estate agents indicated.

The market’s activity pace is likely to keep up increasing during April until entering a stability state in May, which coincides with the Holy Month of Ramadan.

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