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Kuwait sales of real estate jumps by 11% for half a year .. The result is $ 6 billion



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economy

German news agency

Saturday, 2017/7/20 05:10 am Time in Abu Dhabi

Restoration of the real estate market in Kuwait

Restoration of the real estate market in Kuwait

Kuwait: Sales of real estate in Kuwait in the first half of this year reached 1.88 billion crowns. (About $ 5.9 billion), which is 11% more than in the previous year.

In a report on the Kuwaiti real estate market posted on Saturday, the bank said the number of traded transactions for the same period increased 19% yoy to 3 539 compared to 2973 transactions registered in the first half of 2018 year.

The improvement in market indicators was supported mainly by the housing and commercial sectors, with housing sales for the first half of 2019 increasing by 24% annually to reach 790 million crowns.

He pointed out that the number of transactions in the residential sector increased by 21% yoy to 2421 transactions, while sales in the commercial sector for the same period increased by 25% to 300 million. (About $ 990 million).

Sales of the investment sector declined by 18% in the first half of 2019 due to the relatively weak results reported in the first quarter of this year, noting that the investment sector had sales levels similar to those in the second quarter of the year. in 2018.

Sales in the second quarter of 2019 were the highest since the fourth quarter of 2014, he said.

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