kuwait property sales down 20 in january
Last Updated : GMT 15:25:25
Arab Today, arab today
Arab Today, arab today

Kuwait property sales down 20% in January

Arab Today, arab today

Arab Today, arab today Kuwait property sales down 20% in January

Kuwait - Arabstoday

Real estate sales in Kuwait during January totaled KD254 million ($893 million), down 20 per cent year-on-year, a report said. Both the residential and investment segments saw activity slow year-on-year (y/y), while sales in the commercial sector were up compared to January 2012, added the latest Kuwait Economic Brief released by the National Bank of Kuwait (NBK). While the overall decline may reflect market sluggishness, timing issues may have driven at least part of the decrease, as the first few days of January were included in the December 2012 data, NBK pointed out. Residential sector sales stood at KD145 million in January, down by KD25 million y/y, but similar to the overall 2012 average. The drop in sales came from a lower number of transactions (with the average transaction size being up y/y). About two-thirds of these transactions were for buying plots of land, with the remainder for already-constructed homes. The 3-month average (November – January) price for residential plots was KD349 per sq m, while prices of residential homes recorded KD634 per sq m. These prices are aggregated across different governorates, as well as different specifications, and therefore only serve as a general indicator, according to the brief. The investment sector – which is made up mostly of apartments and buildings intended for rental – saw sales reach KD75 million in January, KD52 million less than January 2012. The underperformance in January was due to both a lower number of transactions as well as a smaller average transaction size, which were down 33 per cent and 13 per cent, respectively. These transactions were close to a three-way split in January between the purchase of individual apartments, whole buildings, and empty plots of land. Typically, buildings make up about half of all investment transactions. As for the three-month average price, apartments reached KD642 per sq m, while whole buildings recorded KD1,307 per sq m. Commercial sector sales totaled KD34 million, up KD14 million y/y. This was the third consecutive month of y/y increases, the report noted. While this could possibly reflect an underlying improvement, recent months have seen exceptionally large single transactions that have boosted the figures. For January, this was in the form of a KD15.1 million plot of land purchased in the Hawalli governorate. NBK said the commercial sector has traditionally been more volatile than the other two major segments, and separating its trends from outliers can be difficult. The Savings and Credit Bank (SCB) approved 293 loans in January, totaling KD15 million. About half of the loans were to fund new constructions, while the rest were split equally between purchases of existing homes and the funding of additions and renovations. Additionally, little more than KD10 million of loans were disbursed. Overall, SCB activity was soft compared to recent months, according to the brief. TradeArabia News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

kuwait property sales down 20 in january kuwait property sales down 20 in january

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

kuwait property sales down 20 in january kuwait property sales down 20 in january

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday