02/12/2025
Share:
02/12/2025
Share:
KUWAIT CITY, Dec 2: The weekly report from the Real Estate Registration and Documentation Departments at the Ministry of Justice showed a decline in real estate transactions to 119 deals worth KD 103.1 million, compared to 167 deals valued at KD 122.8 million the previous week. This marks a 28.7 percent drop in transaction volume and a 16 percent decrease in value.
Residential property transactions for the week of November 23 to 27 were modest, with 86 deals worth KD 36.2 million, compared to 118 deals valued at KD 50 million the previous week. This represents a 27 percent decline in the number of transactions and a 27.6 percent decrease in value, reflecting a slowdown in home and private residence purchases amid anticipation of new financing legislation. Investment property transactions dropped sharply, with 26 deals worth KD 36.8 million, down 43.4 percent in number and 8.9 percent in value from 46 deals totaling KD 41.5 million the previous week.
In contrast, the commercial sector witnessed strong growth, recording five transactions worth KD 24.2 million, compared to just two deals worth KD 11.3 million. This represents a 114 percent increase in value and a 75 percent rise in the number of deals, reflecting the conclusion of large high-value commercial transactions. The industrial sector recorded two deals totaling KD 4.9 million, while other segments, including shops and coastal plots, saw no activity.
By Marwa Al-Bahrawi Al-Seyassah/Arab Times Staff
