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Kuwait’s property sales grow 63 per cent in November

Highest growth rates recorded since 2009

All types of real estate sales in Kuwait with the exception of investment properties during November 2015 are still lower than their level in past year by 29 per cent, despite the sudden rise on a monthly basis in sales of apartments and commercial property.

The report said that real estate sales increased significantly in November by 63 per cent – compared with October – and it is the highest since the record growth rates in 2009, reports Aljarida.

This is due to the fact that some companies and investors performed exchange transactions and amendments to their financial and investment conditions as the year’s end approaches, taking into account the fall in real estate sales by eight per cent in October of this year. But, it is lower than it was in the past year.

This monthly growth was driven by a significant increase of more than 30 per cent in housing sales, as a result of the increased number of auctions that were organised during the past months, while sales of investment property recorded a growth of 73.3 per cent.