The Kuwaiti Ministry of Justice reported an increase in real estate market liquidity in March 2017 compared to February.<\/p>\n
A recently released report indicated that the total value of contract and agency transactions in March reached approximately 304.5 million dinars, an increase of 84.6% compared to February 2017, which stood at approximately 164.9 million dinars, and also rose by 23.9% compared to March 2016.<\/p>\n
Trading in March 2017 was divided between contracts worth approximately 255.3 million dinars and agency transactions worth approximately 49.2 million dinars.<\/p>\n
The number of real estate transactions last March totaled 614, broken down in the report into 436 contracts and 178 brokerage agreements.<\/p>\n
The Mubarak Al-Kabeer Governorate led in the number of real estate transactions with approximately 252 transactions, accounting for 41% of the total number of real estate transactions, followed by the Al-Ahmadi Governorate with 155 transactions, accounting for 25.2%, while Al-Jahra Governorate recorded the lowest number of transactions with 25, representing approximately 4.1%.<\/p>\n
The value of transactions in the private residential sector reached approximately 211.9 million dinars, an increase of approximately 146.7% compared to February 2017, when it stood at approximately 85.9 million dinars, This represents 69.6% of the total real estate transaction value, compared to 52.1% in February 2017.<\/p>\n
The report noted that the monthly average value of private residential transactions over the past 12 months was approximately 93.4 million dinars, meaning that this month\u2019s transaction value was 126.9% higher than the average.<\/p>\n
The number of transactions in this sector rose to 528 in March 2017, compared to 251 in February 2017, bringing the average value per transaction for the private residential sector to approximately 401.4 thousand dinars.<\/p>\n
The value of transactions in the investment housing sector rose to 72.6 million dinars, an increase of 29.6% compared to February 2017, when it stood at 56 million dinars, while its share of total liquidity fell to 23.8% compared to 33.9% in February 2017.<\/p>\n
The 12-month average trading value for investment housing activity was 65 million dinars, meaning that this month\u2019s trading value was 11.7% higher than the 12-month average. The number of transactions fell to 81, compared to 120 in February 2017, bringing the average transaction value for investment housing to approximately 895,800 dinars.<\/p>\n
The value of commercial transactions fell to approximately 20 million dinars, a decrease of 13.2% compared to February 2017, when it stood at approximately 23 million dinars. Its share of the total value of real estate transactions fell to 6.6%, compared to 14% in February 2017.<\/p>\n
The report indicated that the 12-month average trading value for commercial activity was approximately 41.9 million dinars, meaning that this month\u2019s trading value was 52.2% lower than the 12-month average. The number of transactions stood at 5, compared to 7 in February 2017, bringing the average transaction value for commercial activity to approximately 4 million dinars. No transactions were conducted in the warehousing sector in March 2017.<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>The Kuwaiti Ministry of Justice revealed that the liquidity of the real estate market increased during March 2017, compared to the liquidity of last February. According to a recent report, the total value of contract and agency transactions amounted to about 304.5 million dinars in March, which is 84.6% higher than that of February 2017, which amounted to about 164.9 million dinars, and also increased by 23.9% compared to March ... 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