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Property trades in Kuwait in August dropped to $447mln

Kuwait - October 28, 2018

The real-estate witnessed noticeable decline in all of its sectors. Property trades in Kuwait, in the end of August were valued at KD 136 million (USD 447 million) from 310 transactions, against KD 548 million (USD 1.8 billion) from 744 deals in July, according to Kuwait Finance House (KFH).

The KFH said in a realty report, released on Saturday, that the real-estate in August witnessed noticeable decline in all of its sectors.

Private housing trades were estimated at KD 65 million (USD 181 million) in August, falling by 55% as compared to KD 144 million (USD 473 million), with a monthly proportion reaching 73%, in July. The level in August was the lowest in two years.

These trades fell by 8% in August, in contrast to the same month of 2017.

Transactions in the investment sector, they were estimated at KD 63 million (USD 207 million) in the end of August, the lowest level since start of the current year, after leaping to unprecedented levels in July, amounting to KD 261 million (USD 858 million).

Trades in the commercial sector reached KD eight million (USD 26 million) in August, the lowest fall as compared to KD 130 million (USD 427 million) in July.

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