May 02, 2012
According to a report by the National Bank of Kuwait (NBK), real estate sales last March have remained almost flat year-on-year at KD246m, Kuna has reported. Total real estate transactions continue to be supported by solid residential and investment figures, but are being hindered somewhat by a sluggish commercial sector, NBK said. Residential sector sales reached KD147.4m in March, almost unchanged month-on-month, but up by 10% to KD13.5m, due to a larger average transaction size. The investment sector saw KD93.4m in sales during March and averaged over KD100m a month in the first quarter. Most sales in this sector were for finished apartments or buildings intended for rent (about 78% in March), while the rest are the purchase of plots of land intended eventually for the same purpose, the report said.
