FINANCIAL NEWS

Kuwait’s real-estate sector to weaken in 2016

23 Dec 2015

(MENAFN) Kuwait expects to witness a noticeable drop of prices of investment and residential units over the following year, based on experts’ data.

In particular, the negative outlook is mainly driven by the continuous deterioration of oil prices, let alone the recent interest raise on the Kuwaiti dinar.

Early this year, housing units’ prices weakened 20 percent compared to the previous year, plus the distribution of plots noticeably affected the prices.

Meanwhile, if oil prices fell further along with elevated concerns of global economic crises, the commercial sector will be impacted the most.

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