Kuwait: Real estate market sees 14% surge in transactions

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KUWAIT CITY: The Kuwaiti real estate market experienced a notable surge in transactions from July 8 to 11, as highlighted by the latest weekly statistical report from the Real Estate Registration and Documentation Departments at the Ministry of Justice. The report reveals that 93 properties were traded during this period, with a total value of approximately 92 million dinars. This represents a significant 14% increase, equating to an additional 13 million dinars compared to the previous week’s trading value of 79 million dinars.

According to the statistics, 64 private properties were registered this week, totaling around 42 million dinars — an increase of 16 million dinars from the prior week. In contrast, 24 investment properties were recorded for 24 million dinars, marking a decrease of 19 million dinars compared to the previous week. Additionally, transactions included a craft property worth 1.29 million dinars, down from 4 craft properties valued at 3.8 million dinars last week.

The report also noted registrations for a warehouse property at 2.55 million dinars, a coastal property at 1.6 million dinars, and two commercial properties totaling 21 million dinars. Regionally, the Hawalli area led the transactions with a total value of 34.7 million dinars, making it the highest among Kuwait’s six governorates. It was followed by Mubarak Al-Kabeer Governorate with 21 million dinars, the Capital Governorate with 15.1 million dinars, Ahmadi Governorate with 8.3 million dinars, Farwaniya Governorate with 5.7 million dinars, and Jahra Governorate with 2.1 million dinars.