17% drop in Kuwait’s real estate deals in June

Real estate transactions in Kuwait dropped 17 percent year-on-year to KWD 283 million ($928.81 million) in June, according to Mubasher.

The number of transactions went down by 19 percent month-on-month to 485 in June, according to a report released by Kuwait Financial House (KFH).

Year-on-year, the value of real estate transactions in the GCC country rose by 33 percent in June, while the number of transactions increased by 29 percent .

The average value of residential and investment transactions grew by 5 percent and 3.7 percent year-on-year, respectively, while the average value of commercial transactions surged 77 percent, compared to the year-ago period.

The total value of real estate sales in Kuwait reached KWD 1.88 billion ($5.9 billion) during the first six months of 2019, a report by Kuwait International Bank (KIB) showed on Saturday, according to the Kuwait News Agency (KUNA).