Kuwait Real Estate News
Upward trend noticed in Kuwait realty market in 2007
According a special economic report, the Kuwait property marked has continued to maintain its upward trend during 2007, and recorded KD4.5bn transactions, which is 62.9 percent more than that in 2006, a monthly report of Kuwait Finance House (KFH) stated.
The KFH report states that on the basis of official records, the real estate transactions for 2007 has registered a significant increase when compared to corresponding figures in 2006.
The investment sector recorded 86 percent increase, followed by 59 percent increase in the housing sector. Next is the commercial sector with a 16 percent increase in the value of transactions. The warehouse sector took the fourth position with 11 percent increase being registered.
The report states that high oil prices, increase in population and improved performance of Kuwait Stock Exchange, have contributed to significant performance in the property sector. Also, the Kuwaiti market was not affected by the US financial crisis, caused by substitute loans, the report said.
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