Kuwait records 12% YoY rise in July real estate sales
Real estate sales in Kuwait for the month of July registered an 11.8% year-on-year (YoY) growth, reaching $535.7m (KWD161.5m)
Real estate sales in Kuwait for the month of July registered an 11.8% year-on-year (YoY) growth, reaching $535.7m (KWD161.5m).
Citing a report published by the National Bank of Kuwait (NBK), Kuwait News Agency (KUNA) said that real estate transactions have grown by 30% since the beginning of the year.
According to the report, the performance of the country’s real estate industry was largely supported by the residential sector, which recorded $299.5m (KWD90.3m) in sales in July, a 43.4% rise compared to the same period last year.
The bank’s report also revealed that the sector logged 268 transactions, a quarter of which were plots, while the rest were mainly housing units.
Activity was well distributed in a number of areas, although more than 30 transactions were recorded in Abu Ftaira and Sabah Al-Ahmad Sea, KUNA added.