FINANCIAL NEWS

Kuwait property transactions rise 50% in Q1

08 Jun 2012

(MENAFN) A recent report showed that Kuwait’s real estate transactions rose by almost 50 percent in the first quarter compared to 2011, the state’s news agency KUNA reported.

Total property deals value rose 49 percent in the quarter reaching USD3.2 billion compared to the same period last year.

The total number of deals increased by 69 percent to 2,657, up 69 percent compared to the first quarter of 2011.

According to the data the highest number of sales was recorded in January, with 1,022 transactions worth USD1.279 billion.

The majority of trades in the housing sector were focused in Sabah Al-Ahmad city, followed by Abu Ftaira, Funaitees, Khairan and Salam.

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