The number of residential real estate transactions in Kuwait decreased during the first half of this year by 41% on an annual basis, according to a report by the Real Estate Registration Department, Invest-Gate reports.

The residential sector witnessed about 1,526 deals with a total of KWD 736 mn, during the first half of 2023, compared to 2,592 deals with a total of KWD 1.08 billion in the same period of 2022.

While the number of deals decreased, the average value per deal increased in H1 2023 to reach KWD 483,000, compared to KWD 414,000 during the first half of 2022.

Furthermore, the investment sector decreased by 14.2%, to record 589 deals worth KWD 454 mn in H1 2023, compared to 687 deals worth KWD 587 mn in the same period last year.