{"id":204266,"date":"2021-07-30T18:27:28","date_gmt":"2021-07-30T18:27:28","guid":{"rendered":"https:\/\/www.bnreport.com\/?p=204266"},"modified":"2021-07-30T18:27:28","modified_gmt":"2021-07-30T18:27:28","slug":"kuwaits-real-estate-sales","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/kuwaits-real-estate-sales\/","title":{"rendered":"Kuwait’s real estate sales deals surge to $1.3bn in June"},"content":{"rendered":"

Kuwait’s real estate sales have witnessed an increasing activity last month compared to May with 1,271 transactions worth KD392 million ($1.3 billion).<\/p>\n

The value of private housing trading activity too rose 7.7%.<\/p>\n

Recent data available in the Ministry of Justice – Real Estate Registration and Authentication Department said that the number of real estate deals for June distributed between 1,201 contracts worth KD363.1 million and 70 agencies.<\/p>\n

Kuwait’s real estate sales<\/strong><\/h2>\n

When comparing the total trading for June last year, the report said it had increased around 407% from about KD77.2 million to KD391.9 million.<\/p>\n

The rise included the liquidity of private housing activity by 447.4%, the liquidity of investment housing activity by 309.9% and the liquidity of commercial activity by 176.6%.<\/p>\n

The report said, Al Ahmadi Governorate achieved the highest number of deals with 861 deals, representing about 67.7% of the total number of real estate transactions<\/p>\n

Hawalli Governorate achieved 143 deals, representing about 11.3%, while Jahra Governorate had the lowest number of deals with 27 deals represented by 2.1%, it added.<\/p>\n

According to the report, the monthly average value of private housing transactions during the last 12 months amounted to about KD215.6 million.<\/p>\n

This means that the value of transactions for the month of June 2021 is 46.1% higher compared to the average.<\/p>\n

The number of deals for this activity increased in June to 1,166 deals, compared to 1,059 deals the previous month, it added<\/p>\n

On Monday, governor of the central bank said Kuwait needs urgent reforms to put its finances on a more sustainable footing, as monetary tools are not sufficient to address structural challenges.<\/p>\n

“There is an urgent need for economic reforms, and all parties, especially the executive and legislative authority, must work to address all imbalances”, Mohammad al-Hashel told a conference.<\/p>\n

He didn’t mention any specific measures but said reforms should aim to reduce Kuwait’s dependence on oil.<\/p>\n

The central bank last year introduced a wide range of stimulus measures to soften the impact of the COVID-19 pandemic, and record low oil prices, on the banking sector and the wider economy.<\/p>\n

These included the reduction of a key discount rate twice to a historic low, relaxing banks’ liquidity requirements, bolstering banks’ lending capacity by enhancing maximum credit limits and reducing risk weights.<\/p>\n","protected":false},"excerpt":{"rendered":"

Kuwait’s real estate sales have witnessed an increasing activity last month compared to May with 1,271 transactions worth KD392 million ($1.3 billion). The value of private housing trading activity too rose 7.7%. Recent data available in the Ministry of Justice – Real Estate Registration and Authentication Department said that the number of real estate deals […]<\/p>\n","protected":false},"author":4,"featured_media":204267,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[43],"tags":[278,692],"class_list":["post-204266","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-featured","tag-kuwait"],"yoast_head":"\nKuwait's real estate sales deals surge to $1.3bn in June - BNReport<\/title>\n<meta name=\"description\" content=\"BNReport - Kuwait's real estate sales have witnessed an increasing activity last month compared to May with 1,271 transactions worth KD392 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bnreport.com\/en\/kuwaits-real-estate-sales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Kuwait's real estate sales deals surge to $1.3bn in June - 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