PRICE RISE, SIGNIFICANT DROP IN KUWAIT'S REAL ESTATE SECTOR

  • 27/07/2022

Kuwait City: There is a report of a huge drop in Kuwait's housing real estate sector. A 50 percent decline has been recorded in the first half of this year compared to the same period in 2021. The report attributed the decline to rising real estate prices and persistent purchasing power on the part of clients in Kuwait, as well as a wide gap between supply and demand. During the same period in 2021, there were 4,814 deals worth 1.40 billion Kuwaiti dinars (about US$4.6 billion). However, in the first half of this year, there were only 2,470 deals worth 1.13 billion Kuwaiti dinars (about 3.3 billion US dollars). 


Alaa Behbehani, a local real estate expert and director general of Abraj Behbehani Company, said that the main reason for the sharp decline in Kuwait's real estate sector is price inflation, as in other countries. Interest rates announced by the US Federal Reserve have also been affected. He also pointed out that this has led to the withdrawal of liquidity from the world market.

Related News

Kuwait Tops Global Hunger Index 2024 as Least Hungry Country
  • 04/02/2025
MoI: Implementation of new traffic fines on April 22
  • 04/02/2025
Kuwait Council of Ministers Holds Weekly Meeting at Bayan Pa ...
  • 04/02/2025
Kuwait population increases every 5 minutes
  • 03/02/2025
Kuwait Stabilizes Market Ahead of Ramadan
  • 29/01/2025
Kuwait Arrests Egyptian Expat for Forging Medical Documents
  • 29/01/2025
Kuwait Ministry of Education Cuts School Bag Weight by 50%
  • 27/01/2025
Security campaigns in Jleeb and Ahmadi
  • 27/01/2025
Kuwait introduces new housing standards for workers
  • 26/01/2025
2 Young Men Killed in Saad Al-Abdullah Car Crash
  • 26/01/2025
Women’s Health Index: Kuwait ranks 1st in Middle East, 2nd ...
  • 26/01/2025
Kuwait Announces 3-Day Holiday for Isra Wal Miraj
  • 25/01/2025