Wednesday 29 January 2020

Kuwait’s real estate deal value up 33pc in April

KUWAIT CITY, June 17, 2019

Kuwait's property market witnessed solid growth in April with the value of real estate transactions for the month surging to KD385 million ($1.26 billion), up 33 per cent over last year on the back of the sales of commercial, residential, and investment properties, said a report released by Kuwait Financial House (KFH).

The transactions in the residential, investment, and commercial segments increased in value by 16, 67, and 34 per cent, respectively, in April compared to the comparative period in 2018, stated KFH in the report.

Kuwait's real estate sales stood at KD789 million ($2.592 billion) in the first quarter of the fiscal year 2019, recording a quarter-on-quarter decline, it added.

KFH pointed out that the number of transactions soared 31 per cent month-on-month in April, the highest level since 2014, recording 819.

The value of real estate transactions rose 15 per cent in the first month of the second quarter from KD336 million ($1.105 billion) a year earlier, it added.



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