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FINANCIAL NEWS
Kuwait’s real estate sector sales down 37 percent in July
24 Aug 2014
(MENAFN) According to a report by Kuwait National Bank, Kuwait’s real estate sector’s July sales totaled USD 942.36 million, a decrease of 37 percent compared to the same period last year, Saudi Gazette reported.
Sales in the residential sector reached USD 464.15 million in the cited period, down 31 percent on year, while the number of transactions dropped to 429, down 30 percent.
The investment sector’s sales stood at USD467.66, a decrease by 24 percent on year, while the number of transactions had a steep decline by 49 percent, which led to an increase in the average transaction size to USD4.21 million.
Apartments accounted for 48 percent of all transactions in the investment sector, followed by whole buildings accounted for 36 percent of all transactions.
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