SIGNIFICANT DECREASE IN MARKET VALUE OF REAL ESTATE TRANSACTIONS IN SEPTEMBER IN KUWAIT

  • 08/10/2022

Kuwait City: Last month, the private residential real estate market reported a significant decrease in the value of transactions. The value was 166.1 million dinars in August and decreased to 131.3 million dinars in September. The figures show that there is a 21 percent decline. The number of transactions in the same sector fell to 270 in September 2022, a decline of 23.7 percent compared to 354 transactions last August.


According to experts, the increase in interest rates in Kuwait has started to cast a shadow on the real estate market, which, in addition to the global economic situation, is considered to have slowed down the pace of purchases. This situation has had a significant impact on the real estate market. It also encouraged people to keep their money or invest it in other safe sectors. The total value of real estate transactions (contracts and agencies) in the period from September 4 to 28, 2022 is approximately 252.73 million dinars, according to the latest data from the Department of Real Estate Registration and Documentation of the Ministry of Justice.

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