Kuwait’s real estate market is experiencing a significant upswing, with recent data showing a notable increase in property sales and values, particularly in the residential sector.
The country saw a surge in activity during July, with the value and number of transactions increasing substantially compared to the previous month. The total value of real estate deals reached $1.26 billion, marking a 22% increase over June, according to the Real Estate Brokers Union.
The residential sector dominated, accounting for 39% of the total transaction value and 71% of the number of properties. The investment sector followed, with 30% of the trading value and 24% of the properties, while the commercial sector took third place with 17% of the trading value and 2.5% of the property numbers.
Other transactions comprised 14% of the trading value and 2.5% of the properties. Residential sector transactions surged by 42% in value and 55% in number, totaling $496 million for 337 properties, compared to $350.6 million for 218 properties in June.
Sabah Al-Ahmad Marine City led with 17% of the total transaction value, followed by Al-Masayel at 9%, and accounted for 38% of the land transactions.
The investment sector saw a 3% increase in transaction value and a 35% rise in property numbers, with $378.4 million across 113 properties, up from approximately $370 million for 84 properties in June.
Salmiya led with 25% of the transaction value, followed by Hawally at 22%, and Mahboula accounted for 30% of the apartment transactions. The commercial sector experienced a 30% decline in transaction value and a 42% drop in property numbers, totaling $215.9 million for 11 properties, compared to $307 million for 19 properties in June.
Salmiya led with 38% of the trading value, followed by Kuwait City at 19%, and Sabah Al-Ahmad Sea City represented 67% of the land transactions.
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