Kuwait: Real estate market recovers

Real estate sales bounced back last month helped by strong growth in the residential sector, The National Bank of Kuwait (NBK) said in its economic brief on Monday.

In its latest economic brief on the monthly statistics of registered real estate deals issued by the Ministry of Justice, excluding sales conducted through agents, NBK reported that real estate sales rebounded in March following a sharp drop during the previous month. A total of 537 sales transactions were registered at a value of KD 118 million. Accordingly, unit sales and their value rose by 48 percent and 26 percent from February, respectively. Growth in value was led by the residential sector where sales increased by 41 percent, while the value of sale rose by 8.8 percent in the apartments and commercial sector.