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Real estate market in Kuwait stays put despite economic ordeals

Kuwait - July 31, 2015
Kuwait

The real estate market in Kuwait maintained a fixed rate of sales during the second quarter of this year. Sales value in Q2 reached 966 million dinars rising by 1.1% from last quarter, while transactions number dropped by 5.5% to 1660 deals.

Market followers realized that properties sales value in Kuwait during the first half of 2015 reached 1.92 billion dinars which is equivalent to 39.2% of last year’s total sales value. Transactions number in the same period reached 3416 covering 41.3% of 2014 total number of transactions.

The residential real estate sector in Kuwait witnessed a drop in sales value during the second quarter by 14% obtaining only 410 million dinars. Houses transactions number fell also by 16% recording 1372 deals.

The solid domestic demand rates on residential units bolstered the market stability in Kuwait despite the geopolitical turbulences and Kuwait economy sluggishness.

 

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