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Kuwait property sales tumble 47% in Q2
- Kuwait: Monday, August 03 - 2009 at 11:49
Real estate sales in Kuwait dropped 47% in the second-quarter compared to the year earlier period, according to official data. Property sales in the country had plunged to KD280.8m ($977.7m) from KD529.1m in the second quarter last year, it showed. Residential property deals, which represent the biggest proportion of total real estate transactions, had fallen 28.1% in the quarter to KD142.8m. Investment property sales fell 55.6% to KD101.19m, while commercial property sales were down 64.1% in the second quarter of 2009, compared to the year earlier period, reported Reuters.
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