Increased volatility in Kuwaiti real estate activity dominated the first half of 2017 amid steadying prices, Reuters reports.
Despite some volatility, market activity in the Kuwaiti real estate sector improved significantly during the first half of the year compared to the second half a year earlier, though it remained down 10% compared to a year before.
Improved activity was particularly visible in the residential sector. This also helped keep real estate prices mostly steady during the first half of 2017.
Activity in June experienced the usual slowdown from the start of summer and the holy month of Ramadan. June sales eased to KD 163.6 mn, down 14.6% year-on-year (y/y).
The annual decline was mostly due to weakness in the investment and commercial sectors. However, residential sector activity mitigated further weakness.