Kuwait – Mubasher: Kuwait real estate sales declined in June 22% year-on-year to KWD 1.3 billion, according to a report released on Monday by the National Bank of Kuwait (NBK).
The report said that June’s price performance is in line with the continuing gradual correction that started last year.
Activity in the residential sector slid June by 24% y-o-y to 266 transactions after a strong performance in May. Sales value also shrank in June by 27% y-o-y to KWD 88 million.
The NBK residential home index declined in June to 165.2 points, staying relatively flat compared to May, while fell by 10.9% y-o-y.
Also, the NBK residential land price index decreased in June to 182.2 points, falling 3.9% y-o-y.
Apartment sales rose 15% month-on-month to KWD 73 million, but still down 40% y-o-y.
